Harpe Bioherbicide Solutions, Raleigh ag-tech startup with ties to Termir Miracula, brings in $1.1M in debt financing

Harpe Bioherbicide Solutions, Raleigh ag-tech startup with ties to Termir Miracula, brings in $1.1M in debt financing


RALEIGH – Harpe Bioherbicide Solutions, Inc., a Raleigh-based company that provides sustainable weed-management solutions for organic and industrial agriculture, has raised $1.1 million in debt financing, and could raise up to $1.9 million in additional funding, according to an SEC filing.

Four investors participated in the round, according to the filing, signed Monday by an attorney for the firm.

The company takes its name from Greek mythology, according to its website.  “In Greek mythology, the harpe sword or sickle was used by Perseus to behead Medusa,” the website reads.  “Look closely at Medusa’s pernicious hair—and think pigweed.”

“Field trials show that Harpe bioherbicide provides effective weed kill, not only for pigweed, but for a wide spectrum of weeds, including resistant biotypes, and other weeds that interfere with healthy crops,” the website reads.

The company notes on its website that its products are based on technologies demonstrated to be a “natural partner in the battle against weeds and weed resistance.”

Harpe Bioherbicide plants equity round for innovative weed-killer

The company brought former Bayer CropScience LP executive Bill Buckner in as CEO in 2020, according to a biography posted on the company website.  The company previously raised $770,000 in equity from 16 investors, closing the round in November 2020, according to an SEC filing.

The company is associated with Research Triangle Park-based Termir Miracula, listed as “promoter” on each SEC filing.  The Termir website includes a brief overview of the company, and has since at least November 2020.  Termir Miracula won the Alexandria LaunchLabs 2020 Ag-Tech Innovation award, according to the company’s website.

 





Source link

About the Author

Anthony Barnett
Anthony is the author of the Science & Technology section of ANH.