Company attributes
Other attributes
Pivot Bio is a California-based biotechnology company that uses research from the microbiome to advance the nutrition available in crops. It is developing an alternative to synthetic nitrogen fertilizer with the stated purpose of decreasing the negative effects that synthetic nitrogen fertilizer has on the planet, such as contributing to global warming and ocean dead zones.
The company's product is "Proven" and consists of microbes that are applied in-furrow during planting. The microbes create an interdependent relationship with corn crops by producing nitrogen and delivering directly to the roots of the plants, thus not causing run off during extreme weather events, such as heavy rainfall. In 2018, Proven outperformed synthetic nitrogen fertilizer in national tests that were conducted by the company.
Pivot Bio has started with a solution for corn crops because it is one of the largest global commodity cereal crops. The product is approved in 16 states within the United States and Pivot Bio is working on another product that is designed for soybean crops.
On October 1, 2014 Pivot Bio announced raising $750,000 in seed funding from Monsanto Growth Ventures (lead investor) and Data Collective DCVC.
On March 23, 2016 Pivot Bio announced raising $16 million in series A funding from Data Collective DCVC (lead investor), Monsanto Growth Ventures, Bill & Melinda Gates Foundation, and Jenny Rooke.
On October 2, 2018 Pivot Bio announced raising $70 million in series B funding from Breakthrough Energy Ventures (lead investor), Tekfen Ventures, Continental Grain Company, and Alan Cohen. The company plans on using their series B funding to launch new products and enter new markets such as Brazil, Argentina, and Canada.
