Paris Business Angels supports earthworms!
Veragrow recently raised €1 million from Paris Business Angels to accelerate its expansion and impact.
In an era when the challenges of agro-ecology are increasingly numerous and crucial, Veragrow is emerging as an innovative player with an unusual base: the earthworm. Created four years ago, this start-up puts soil fertility at the heart of its business.
Veragrow and the continuous-flow vermicomposter
In 2019, Veragrow entered the market by developing the continuous-flow vermicomposter in France. This is an impressive 25-metre-long tool, housing several million earthworms. These tireless little workers can process over 100 tonnes of biowaste a year into vermicompost. By collecting local organic materials such as coffee grounds, manure and beer draff, Veragrow has succeeded in producing an agronomically rich vermicompost.
From vermicompost to biostimulants for field crops
Veragrow isn't stopping there. In its quest for comprehensive, sustainable solutions to the challenges of agro-ecology, the company has harnessed the active ingredients in vermicompost to create natural, effective biostimulants that are accessible to field crops. This range of three products is capable of increasing crop yields and improving the agro-ecological performance of farms :
Veraleaf : To be applied as a foliar spray during the plant's vegetative cycle.
Veraspida : To be applied as a seed coating or plant praline.
Veraterra : For use in soil preparation.
These products open up new prospects for farmers concerned about the environment and the quality of their crops.
PBA: a key partner in this adventure
Veragrow has taken a significant step forward by raising its first round of funding, amounting to €1 million. The fund-raising is aimed at increasing the company's production capacity, recruiting new talent and establishing its presence on the international market.
Members of the PBA network have acquired a stake in Veragrow, helping the start-up to achieve its objectives. Alexandre Bocage, founder of Veragrow, comments on this partnership: "PBA and its members, who are among Veragrow's investors, are all experienced entrepreneurs and managers, with a wealth of experience and valuable skills and a real desire to share them. A real goldmine for a young deep-tech start-up in a sector that is as complex as it is interesting: agriculture".
Founded in 2004, Paris Business Angels is one of France's leading networks for investing in and supporting start-ups. The network brings together nearly 200 investors with a passion for entrepreneurship, who share a common vision: to support the growth of start-ups at the seed stage. Since its creation, Paris Business Angels has financed and supported more than 200 start-ups in all sectors, helping to stimulate innovation and the local economy.
Patrick Mole, Vice-Chairman of PBA, said: "We decided to invest in VERAGROW following an in-depth analysis that confirmed the talent of the management team, the quality of the project and the depth of the biostimulants market. VERAGROW is the epitome of French ingenuity, combining practicality, innovation and product quality. We are also at the heart of fundamental issues for our environment, such as preserving and improving soils while maintaining good agricultural yields. To achieve this, VERAGROW has chosen to put its trust in earthworms and their millions of years of experience, a species that has been described as "the engineer of the ecosystem". It's simply brilliant and delightful".
Veragrow continues its commitment to sustainable agriculture and the promotion of soil health through an innovative approach and strong partnerships. With the recent fundraising and the involvement of PBA, the future looks bright for this company that draws its strength from earthworms.
