NEWS COMMENTARY

Pivot rakes in $100 million Series C as demand for product grows

Published:
May 01, 2020
Services:
Consumer
Activities:
Investment
Very important

The round, co-led by Breakthrough Energy Ventures and Temasek and joined by DCVC, builds on significant investments in microbial development for crop production and is among the largest. Driving the investment is Pivot's continued demand for PROVEN, its corn biofertilizer. With hundreds of thousands of acres applying the product on corn (less than 1% of the U.S. market), expansion of PROVEN to Argentina and Canada planned shortly, and RETURN for wheat launched for early adopters this year, Pivot has significant momentum but must demonstrate value for the premium price tag outside of reduced emissions, unless these are directly tied to value. Clients, Pivot will gain market share and capacity, but solidifying the economics for users is key.

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