Why we Invested in Robigo
Developing biopesticides to address pest and disease and reduce crop loss
Source: Robigo
An estimated 20 to 40% of crop harvests are lost to pests and disease every year. This number is likely to increase as climate change expands the viable range for pathogenic disease. In a world where we face food shortages and increasing hunger, reducing crop loss is a critical lever to feeding us all.
As a firm that invests in the future of food, agricultural solutions are an important critical part of our investment thesis. Which is why we are thrilled to welcome Robigo to our portfolio. Robigo builds on nature’s foundation to engineer solutions to agricultural pests and diseases that work for growers, consumers, and the environment.
In her own published paper on Treating the untreatable: precision microbials for crop protection, Robigo founder and CEO Dr. Andee Wallace says, “Food production will need to increase by 25%–70% over today’s levels to support a global population of more than nine billion by 2050. Scaling current farming practices by creating more arable land through deforestation and increasing pesticide and fertilizer application is unsustainable and insufficient to meet these growing needs.”
Robigo’s technology hyper-targets pests and disease via the plant microbiome, a far more effective and less environmentally destructive approach. We invested in Robigo’s oversubscribed Seed round led by Congruent Ventures with participation from Endeavor8, Good Growth Capital, and other food and climate focused firms.
Pesticides Market
The market opportunity for biopesticides is compelling. The US lags behind other agricultural nations in banning harmful pesticides. Consider this - the EU has banned more than a quarter of all agricultural pesticides that are currently used in the US, to the tune of 1.2 billion lbs in 2016. We believe that this landscape will shift dramatically in the coming years.
The total pesticides market in the US – including traditional chemical pesticides – is ~$20 billion. The synthetic chemical pesticide market is projected to shrink, while the biopesticides market (at ~$5 billion) is projected to double by 2027.
Biotechnology Policy Enablers
In March, the White House unveiled a report outlining goals to strengthen America’s bioeconomy, including advancing biotechnology and biomanufacturing. It called on federal departments and agencies to assess the potential for biotechnology and biomanufacturing R&D to further five societal goals: climate change solutions, food and agricultural innovation, supply chain resilience, human health, and crosscutting advances. Importantly, this demonstrates a shifting view on the importance of biotechnology in securing our future food supply and Robigo’s solution is a prime example.
Agtech Landscape
Pitchbook’s Q1 2023 view of the Agtech ecosystem is pictured below and breaks out innovations in Ag biotech, plant biotech, biomaterials and plant & data analysis. Robigo joins a growing ecosystem of Ag biotech startups, including Pivot Bio and Greenlight Biosciences, both which are using the power of biology to unleash important solutions for the future of agriculture.
Pitchbook’s Q1 2023 AgTech Ecosystem Market Map
What is Next
Robigo’s platform can help growers evolve from use of chemical pesticides, which harm both the environment and consumer health, to biological solutions, which can more effectively eradicate diseases that contribute to plant losses of 20-40% globally. Robigo has a compelling value proposition to address efficacy, yields, versatility and cost of conventional pesticides. Their solution has shown efficacy for a variety of plants and will be expanding its platform capabilities to address a broader range of diseases and crops in the future.
Fun Fact
Robigo is named after this presumed female deity who protected grain fields from disease. Our investment was finalized in April, just a few days after what would be the annual Robigalia, which was held every April 25th at a grove outside Rome to appease Robigo, who was the god—or goddess, for the Romans were not sure of Robigo's gender—of grain rust, the fungus which plagued the farmers' crops .
Read more about Robigo in their round publication here.