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February 1, 2023

Mystic-based crop health company raises $80M

PHOTO | CONTRIBUTED Enko Chem researchers work out of the company’s Mystic headquarters.
By Michelle Tuccitto Sullo

Enko, a Mystic-based company focused on protecting crops from pests, weeds and diseases, announced it has completed an $80 million Series C funding round. 

This raise, which follows Enko's initial close of $70 million in July 2022, brings the company's overall capital raised to $150 million to date, according to an announcement Tuesday.  

Eight Roads Ventures, Nufarm, Endeavor8 and Akroyd LLC were among the leading funders. 

Enko CEO Jacqueline Heard said the money will help the company with its efforts to bring new crop-protection products to market.

"Farmers worldwide are struggling with mounting challenges exacerbated by climate change,” Heard said. “Enko is working to help growers cost-effectively adapt and mitigate key challenges to the food chain around the world: pesticide-resistant weeds, fungus, and pests."

Prem Pavoor, a senior partner with Eight Roads Ventures, said companies like Enko are helping to protect the global food supply. 

"By investing in better crop protection, we can help improve yields, reduce waste, and create more sustainable food systems for our growing population in an increasingly unstable world,” Pavoor said. 

Enko launched in 2017, and it uses machine learning to identify new crop protection chemicals. The research and development company aims to protect crops from hazards such as pests, while still being environmentally-friendly. It has ongoing partnerships with agricultural companies such as Bayer, Syngenta, and Nufarm.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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