Madison-based startup AmebaGone Inc. is raising a $10 million Series A round from venture capital investors.
AmebaGone has collected a group of 3,000 proprietary antibacterial soil microorganism strains targeted to combatting a crop disease called fire blight, as well as a potato storage disease called soft rot. It was one of 15 agricultural technology startups to pitch to investors this week at the inaugural AgTech Venture Day hosted by Brookfield-based angel investment firm Golden Angels Investors in Johnson Creek.
According to AmebaGone, soft rot destroys 75 million tons of potatoes every year, and fire blight destroys $4 billion worth of non-citrus fruit and nut crops in the U.S. annually. The company has two products in development: AmebaGone FB for fire blight, and AmebaGone SR for potato soft rot. Read the full story here.