# Elicit Plant

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elicit-plant

- Industry: Agribusiness
- Headquarters: France
- Website: www.elicit-plant.com
- Total disclosed funding: $59M
- Latest round: Series B (Sep 25, 2024)
- Investors on record: 5

## About

Based in France, and founded in 2017 by Jean-François Dechant, Aymeric Molin, and Olivier Goulay, Elicit Plant operates as an ag-tech firm specialized in crops' water resistance and in the development of innovative phytosterol-based solutions. In September 2024, Elicit Plant raised EUR 45 million in series B funding led by new investor Carbyne Equity Partners, with participation from returning investors Sofinnova Partners and Bpifrance Investissement. Another new investor ECBF also participated in the round.

The company has developed an innovative biostimulant using phytosterol, a molecule found in plants. The solution naturally boosts plants' metabolism and reduces the need for water thus allowing for better resistance to water stress. Openfield trials showed yield gains of up to more than 20%. The products developed by the company include BEST-a Corn and BEST-a Soya.

The company plans to utilize the September 2024 funding to accelerate commercial development in key markets, expand strategic partnerships, and intensify research to advance its portfolio of bio-based solutions for farmers facing climate challenges.

## Funding rounds

- Series B, Sep 25, 2024, $50M — Sofinnova Partners, Bpifrance Investissement, ECBF, Carbyne Equity Partners
- Series A, Nov 17, 2021, $9.2M — Sofinnova Partners, Bpifrance Investissement, La Région Nouvelle-Aquitaine

## Investors

- Sofinnova Partners (https://capitalatlas.ai/funds/sofinnova-partners) — Series A, Series B
- Bpifrance Investissement (https://capitalatlas.ai/funds/bpifrance-investissement) — Series A, Series B
- La Région Nouvelle-Aquitaine — Series A
- ECBF (https://capitalatlas.ai/funds/ecbf) — Series B
- Carbyne Equity Partners (https://capitalatlas.ai/funds/carbyne-equity-partners) — Series B