Ag startup raises $7m to develop gel to grow apples, cherries and nuts faster
The Seattle startup just closed on $6.95 million of a larger Series B round that could total $16 million. Cowles Company led the investment, which included participation from WRF Capital. Total funding in the 70-person company is $12.6 million.
Founded in 2012 out of Washington State University, Phytelligence has developed proprietary, non-GMO technology to grow crops at a faster clip and with a lower mortality rate. The company has delivered more than one million plants to growers and nurseries around the country.
Phytelligence grows its trees through a proprietary tissue culture process called MultiPHY. The four-step process grows trees in a custom gel blend rather than traditional soil; this method provides all necessary nutrients without the need for water, which saves time and money for growers. The controlled environment also allows the plants to grow more quickly.
Read more at geekwire.com
