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US (NC): AgTech Accelerator announces first investment

AgTech Accelerator, a startup incubator focused on agricultural technology companies, revealed Boragen Inc. as its first investment on Thursday — making it the first company to set up shop inside the new Research Triangle Park-based startup hub.

AgTech Accelerator launched last year in RTP as part of Alexandria Real Estate Equities’ broader plan for the Alexandria Center for Science, Technology and Agriculture, which is planned to be built out in phases over the next decade and encompass one million square feet of space on Davis Drive.

Boragen, which creates fungicides aimed at mitigating pest resistance, starts at AgTech Accelerator having completed a $10 million financing round with a group of investors brought together by the accelerator. The investors participating in Boragen’s financing include: Alexandria Venture Investments, Bayer, the Bill & Melinda Gates Foundation, Hatteras Venture Partners, Pappas Capital and Syngenta Ventures, among others.

The chemical technology that Boragen uses is licensed from The Pennsylvania State University, where researchers had been creating products to reduce fungicide resistance and the total amount of chemicals applied per acre on farms.

Read more at The Herald-Sun

Publication date: 3/10/2017

 


 

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