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MoA Tech secures more funding

27th April 2021
by MoA Comms
Weeds in rice
MoA Tech investment means better prospects for controlling weeds in rice

 

Two new investors are to fund MoA Technology with a further £5 million extension to the company’s Series A funding round.  Shanghai-based Bits x Bites and BGF, based in the UK and Ireland, have joined earlier investors bringing the total raised to around £12 million.

MoA Tech was spun-out from Oxford University’s Department of Plant Sciences in 2018.   Its unique in vivo herbicide discovery platforms MoA GALAXYTM, MoA TARGETTM and MoA SELECTTM are filling a pipeline of exciting new molecules now entering field testing.

Bits x Bites invests in early-stage start-ups with transformative technologies in Agriculture and Food.  Of foremost interest are threats to the food system in China. Researchers at Hunan Agricultural University published a paper in 2019 reviewing the status of herbicide resistant weeds in China.  They noted how the problem has escalated over the past decade and weeds with cross-resistance to multiple modes of action now pose a serious threat to Chinese agriculture.  This is aggravated by the lack of new herbicides becoming available.

BGF has invested in nearly 400 businesses since 2011 in a wide range of sectors including Energy, Healthcare, Food & Drink and Life Sciences.  The focus is on supporting growth in entrepreneurial companies.

MoA Tech CEO, Dr Virginia Corless said: "This further boost to funding will support the expansion and acceleration of our discovery programme, which will deliver new herbicides to benefit farmers worldwide."