Cooley advises Pivot Bio on $100M Series C Round
May 4, 2020
Cooley advised California-based agricultural biotech growth company Pivot Bio on its $100 million Series C funding round, co-led by repeat investors Breakthrough Energy Ventures and a global investment company. Pivot Bio has raised $186 million to date and plans to use the funds to scale-up its microbial nitrogen technology that helps farmers boost crop yield and reduce reliance on synthetic nitrogen fertilizer. The funding will also be used to help the company expand internationally. "The strong backing by our Series C investors enables Pivot Bio to redefine the future of fertilizer and provide the world's farmers with a new nitrogen source. Based on remarkable demand, we expect to ramp up from our large current footprint to millions of additional acres in the next growing season." said Karsten Temme, Ph.D., CEO and co-founder of Pivot Bio, in a news release.