Feb 8, 2022

North Carolina bioherbicide startup, Harpe, gathers $3M in financing

Harpe Bioherbicide Solutions, Inc., a startup company with a focus natural and sustainable herbicide solutions, recently announced it has closed more than $3 million in financing.

The financing was led by Alexandria Venture Investments and iSelect Fund Management, with additional investment from AgriTech Capital and support from agricultural industry angel investors, according to a news release from the company. The financing helps Harpe Bioherbicide Solutions “advance research and development and strengthen its intellectual property portfolio,” according to the release. Its portfolio is “established on a series of plant-based herbicidal active compounds.”

Through wide spectrum control of broadleaf and grass seeds or weeds, the platform of Harpe products will deliver new opportunities for organic agriculture through a series of all natural herbicide formulations for pre, post and desiccation use patterns, according to the release. In addition, a series of tailored Harpe pre and tank mix formulations will improve control of tough-to-kill weeds, including those resistant to current synthetic chemistries, facilitating the reduction, replacement, and synergy with synthetic herbicides used in row and specialty crop, commercial and consumer markets.

“There is an incredible need for the introduction of new, more sustainable herbicide alternatives. This is fueled by the vast number of synthetic herbicides facing increased weed resistance and is intensified by the lack of products with new modes of actions that can meet the needs of growers and consumers,” Harpe CEO Bill Buckner said in the release. “The challenges faced by farming extend well beyond the field, as consumers are demanding more transparency into food production. In addition, governing bodies continue to restrict the use of synthetic pesticides while increasing the pressure on farmers to produce high-quality food without negatively impacting soil, waterways and their neighboring environments.”

In conjunction, the company also announced that former U.S. Ambassador Kip E. Tom will join as a member of its Board of Directors, which includes Bill Buckner, Dr. Chad Brommer, Daniel Pepitone and Aidan Connolly as Chairman.

Ambassador Kip E. Tom served as the United States Ambassador to the United Nations Agencies for Food and Agriculture (2019-2021) focused on food security, policy and trade globally, according to the release from Harpe. Currently, Tom is the Managing Member of Tom Farms LLC and President, CereServ Incorporated and Founder-Managing Member of GlobalAG LLC.

As part of the financing, Blake Stevens, vice president of science & technology at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments and Head of Alexandria LaunchLabs – AgTech, along with Craig Herron, Managing Principal of iSelect Fund, will join the Board of Directors as Observers, according to the news release.

Learn more about Harpe Bioherbicide Solutions, Inc. at harpebio.com.