10 Jul New Leaf raises $24 million and will expand facility
By David Nicklaus
New Leaf announced the closing of its Series C financing round on Monday. The round was led by Monsanto Growth Ventures and Otter Capital of Palo Alto, Calif. Lewis & Clark Ventures of Clayton is among the other investors.
New Leaf said it will use the money to commercialize its bacterial treatment for use with soybeans, corn, wheat, peanuts, and other crops. Ryan Rakestraw, a principal at Monsanto Growth Ventures, said the product “has tremendous potential to enhance yields and improve plant health.”