Massachusetts-based Clean Crop Technologies has recently closed a $2.75 million seed round. The funding round was led by Prime Impact Fund, a climate tech impact investing fund.
Factor[e] Ventures, Innova Memphis, Syndicate Fund and Alchemy Fund also participated in the seed round.
The Massachusetts-based firm attracted several impact investors to its funding round, thanks to its cutting-edge technology.
The company is also developing an eco-friendly treatment for post-harvest crops in order to kill toxins, ensuring that foods last longer and are safer for consumption, as per the report.
Toxins and pathogens spoil nearly 500 million tons of food, which causes around 3% of global greenhouse gas emissions, according to the news report.
Clean Crop’s “high-voltage atmospheric cold plasma” technology combines air and electricity to create ionized gases that can kill off mold and toxins post-harvest.
Clean Crop’s approach is safer than chemical treatments, and also more effective than on-farm solutions, according to Dan White, Clean Crop’s co-founder.
“There are solutions trying to breed [mold resistance] into the seeds,” says White. The problem with those is that even if one farmer has controlled his crop, when it gets consolidated with other farmers’ harvests, it can become contaminated. “You will have as much contamination as the most poorly-managed crop.”
“We have conviction that Clean Crop can drastically reduce emissions in one of the largest greenhouse gas wedges, and build a large, self-sustaining business,” said Amy Duffuor, principal at Prime Impact Fund, which is a first-in investor on climate-focused technologies.
“In Clean Crop, we’ve found technology and a team with the potential to remove food safety-related trade barriers that prevent smallholder farmers from accessing high-value global markets,” Seth Silverman, principal at Factor[e] Ventures, said.
It is worth noting that funding from its seed round will enable the agtech firm to build a proprietary “ionized air generator” or High Voltage Atmospheric Cold Plasma (HVACP) technology and start field tests later this year.