TRICOPHARMING RAISES €480.000 IN A NEW FINANCING ROUNDhttps://www.tricopharming.com/wp-content/themes/osmosis/images/empty/thumbnail.jpg 150 150 marketing marketing https://secure.gravatar.com/avatar/70a32323689d1ac86eb34fe5e14afb1b?s=96&d=mm&r=g
We are grateful and proud to announce that we closed a new ﬁnancing round last month. We would like to welcome the new partners joining Tricopharming’s capital, PedroDiazMontañez and the two investment funds, KiraVentures and Sancus Capital, which we met thanks to the program organized by Decelera Ventures in September 2021.
In addition to the investment round, Tricopharming received two support lines in recent months: a NEOTEC ﬁnancing of €260.000 and an ENISA of the value of €200.000 under the AgroInnpulso ﬁnancing line.
Tricopharming, based in Barcelona and an experimental R&D centre on the island of Tenerife, was incorporated in October 2018, focusing on improving the productivity of the cultivation of medicinal and aromatic plants through the development of technologies capable of stimulating plant trichomes or plant hairs.
This round is in addition to the 2020 pre-seed round and will drive the market launch, commercialization and development of the new MapStimulants line of bio-agriculture products for medicinal and aromatic plants. One of the star products of this line is Tricostimulant™, a specific biostimulant for medicinal cannabis and fibre hemp crops capable of accelerating production while increasing the content of therapeutic molecules and fibre in the plant, thus increasing crop productivity.
“In this new business stage, our challenge is to enter the international market of agrotech solutions that provide the botanical extracts production sector with more eﬁciency and eﬁciency thanks to the application of new technologies to agriculture sector. Agrotech solutions like ours contribute to the positive impact on the environment by achieving greater agricultural sustainability,” says Chiara Sanseverino, co-founder and CFO.
Furthermore, the round aims to boost the internationalisation process and finance the upscaling of the production and commercialisation of the Artennua® product line. Artennua® has been launched on the market after managing to substantially optimise the output of the Artemisia annua plant, thanks to the use of proprietary technology based on plant biostimulation. In this way, we have obtained a unique ingredient with a very high concentration of active ingredients. It has been market in the animal health and natural cosmetics market since 2019.