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13 July 2017

Phytelligence harvests series B

The Washington State University spinout has raised nearly $7m so far for the round, which has a target size of $16m.

Author: Sam Shaw, reporter

Phytelligence, a US-based agricultural technology spinout of Washington State University, has closed $6.95m of a series B round featuring WRF Capital, the early-stage investment arm of commercialisation firm Washington Research Foundation.

Diversified enterprise Cowles led the round, which has a final target size of $16m and is expected to close on August 4.

Founded in 2012, Phytelligence has developed a process called Multiphy, which can grow apples, cherries, peaches, grapes, berries and nuts five times faster by using a bespoke gel rather than traditional soil.

Phytelligence employs 70 staff, works with roughly 30 customers and claims to be able to grow up to 29 million plants a year, which it then transports to farmers. The spinout said its technology achieves a much lower mortality rate than traditional nursery methods.

Washington Research Foundation is a technology transfer organisation focused on institutions located in the US state. It focuses on the life, physical and information sciences.

Phytelligence has raised $12.6m to date. It is based on research undertaken by Amit Dhingra, associate professor of horticulture genomics and biotechnology research.

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