You are the owner of this article.
You have permission to edit this article.
Edit
Monsanto leads $2.5 million investment in ag startup Arvegenix

Monsanto leads $2.5 million investment in ag startup Arvegenix

Subscribe for $3 for 3 months
Pennycress 'weed' crop with high potential

Kristine Menn, greenhouse co-ordinator for Arvegenix, pollenates the female part of a field pennycress flower on Wednesday, Feb. 4, 2015, at the company's laboratory in the Danforth Plant Science Center. Pennycress is a winter-growing weed with seeds that produce a high-quality oil for potential use in industrial and renewable fuels. Photo by Christian Gooden, cgooden@post-dispatch.com

Arvegenix, a Creve Coeur company that hopes to turn pennycress into a cash crop, has raised $2.5 million from investors.

Monsanto and Cultivation Capital, a St. Louis venture capital firm, were the lead investors. Other investors include BioGenerator, the St. Louis Arch Angels, Prolog Ventures, Prelude Ventures and the state-funded Missouri Technology Corp. Members of the Arch Angels invested almost $500,000.

A previously reported $100,000 investment from Yield Lab, an accelerator program for agribusiness companies, was also part of the funding round. 

Rick Holton, a Cultivation general partner, will join Arvegenix's board. Jerry Steiner, Arvegenix's chief executive, said the funding would help the firm accelerate research, conduct studies required by regulators and develop growing and crushing operations.

Arvegenix is working to commercialize pennycress, which is generally regarded as a weed but can be a source of oilseed. 

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Blues News

Breaking News

Cardinals News

Daily 6

National Breaking News

Sports