Pivot Bio Secures $70M Investment

The company focuses on nitrogen-producing microbes

Pivot Bio, a synthetic biology company working on nitrogen-producing microbes, announced yesterday that it has completed a Series B round of financing totaling $70 million led by Bill Gates’ innovation investment fund, Breakthrough Ventures.

Breakthrough Ventures is a $1 billion fund with famous investors like Gates and other high-profile billionaires like Jeff Bezos and Richard Branson. The fund focuses on innovation aimed at addressing different areas of environmental concern, with recent investments in a company working to decrease carbon in the concrete industry, a group working on a nuclear-fusion reactor that could produce net-positive energy and, in the agriculture space, the investment in Pivot.

Pivot plans to invest the funding in bringing its first microbial product to market in 2019, but the company also has future plans—exploring new markets like Canada and Brazil, as well as funding research into a seed treatment application and moving beyond just corn to add microbial products for crops like wheat and rice.

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