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- Vestaron
Vestaron Valuation, Funding & Investors
Vestaron is valued at $27M as of July 2018.
Last Vestaron valuation
$27M
Series A · Jul 2018
Last Vestaron funding round
$20M
Series D · Mar 2025
Cumulative funding Vestaron raised
$268M
across 10 funding rounds
Key investors in Vestaron
Novo Holdings
Anterra Capital
Pangaea Ventures
Cultivian Sandbox Ventures
Continental Grain Company
Open Prairie
About Vestaron
Vestaron is a Durham-headquartered biopesticides developer that pioneers peptide-based crop protection products targeting resistant pests. Its Spear biopesticide, derived from spider venom, controls lepidopteran insects in fruits, vegetables, and cotton while maintaining safety for beneficial organisms and the environment. The company received the 2015 Bernard Blum Award, the 2020 EPA Green Chemistry Challenge Award, and the 2021 Best New Biologic Product in Crop Science Awards. Vestaron distributes its formulations through partners in North America, Europe, and Asia.
Founded
2005
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$27M (Jul 2018)
Vestaron Valuation
Vestaron is currently valued at $27M, based on its Series A in July 2018.
Vestaron valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2018 | Series A | $27M |
Vestaron Funding History
Vestaron has raised a total of $268M across 10 funding rounds.
Vestaron's first fundraising round was a $10M Series C in August 2014. The most recent completed round was a $20M Series D in March 2025.
Vestaron funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Series D | - | $20M | - | Vestaron is a global leader in developing novel, peptide-based crop protection solutions, specifically sustainable bioinsecticides. The company announced on March 27, 2025, that it successfully closed an oversubscribed funding round of more than $20 million. The capital was intended to accelerate Vestaron's commercialization of its pioneering peptide technology platform and advance its robust pipeline of sustainable bioinsecticide solutions, with plans to expand commercial presence in key US and European markets and advance development of additional peptide-based crop protection products. Vestaron had secured emergency use authorizations in multiple European markets and demonstrated growing commercial presence in North America, with significant market confidence reflected in strong investor support. The company expected to receive full regulatory approvals and begin sales of BASIN—its second active ingredient to be commercialized in five years—by the end of 2025, which would further strengthen its award-winning SPEAR bioinsecticide product portfolio. |
| Aug 2022 | Series C | Grosvenor Food & AgTech (lead); Syngenta Ventures; Endeavor8; Ordway Selections; iSelect Fund; Northpond Ventures; Novo Holdings; Continental Grain Company; Fortistar; Argonautic Ventures; Cavallo Ventures | $10M | - | Vestaron is a peptide-based biological crop protection company founded in 2005, headquartered in Research Triangle Park, North Carolina. The company develops next-generation crop protection products derived from naturally occurring proteins, using a proprietary yeast-based fermentation manufacturing process to produce peptides with synthetic-level effectiveness at lower cost and time to market. Vestaron's platform targets the nicotinic acetylcholine receptor, addressing approximately 30 percent of the $18 billion global insecticide market. In May 2022, Vestaron raised $82 million in a Series C round co-led by Ordway Selections and Cavallo Ventures, with participation from Agronautic Ventures, Fortistar, and Endeavor8, alongside returning investors Novo Holdings, Northpond Ventures, CGC Ventures (Continental Grain's venture unit), iSelect, and Syngenta Ventures. In August 2022, the company secured an additional $10 million commitment from Grosvenor Food & AgTech, bringing the total Series C to $92 million. The capital was allocated to accelerate product development, expand market presence from specialty crops into broad acre row crops, and advance commercialization efforts. Vestaron's products are deployed across North America, with operations in the United States, Mexico, and Canada through an expanding distributor network. The company had begun EU regulatory approval processes as of mid-2022. By March 2025, Vestaron had surpassed 1 million acres of product application and secured emergency use authorizations in multiple European markets, entering Europe two years ahead of schedule for tomato leafminer control. |
| May 2022 | Series C | Cavallo Ventures (lead); Ordway Selections (lead); Syngenta Ventures; iSelect Fund; Northpond Ventures; Novo Holdings; Continental Grain Company; Fortistar; Argonautic Ventures | $82M | - | Vestaron develops peptide-based biological crop protection products as alternatives to chemical pesticides, using a proprietary fermentation-based platform to create insecticides and fungicides with novel modes of action. Its launched products include Spear-T for greenhouse pests like thrips, whiteflies, aphids, and mites, and Spear-Lep for field control of lepidopteran pests, targeting the nicotinic acetylcholine receptor in the $18 billion global insecticide market. The company aims to expand its pipeline, including Basin and Dictate insecticides for 2023-2024 launches and early-stage fungicidal candidates. In May 2022, Vestaron closed an oversubscribed $82 million Series C round co-led by Ordway Selections and Cavallo Ventures, with new investors Argonautic Ventures, Fortistar, and Endeavor8, plus returning backers Novo Holdings, Northpond Ventures, CGC Ventures (Continental Grain), iSelect Fund, and Syngenta Ventures. The round was later extended by $10 million from Grosvenor Food & AgTech, bringing the total to $92 million. Funds will accelerate pipeline development, manufacturing scale-up, and global expansion, including recent launches in Mexico and regulatory submissions in Canada and the EU. Vestaron's Spear products entered their third market year in 2022, with adoption on crops like tree nuts, pome fruit, stone fruit, brassicas, maize, leafy greens, hops, hemp, and cranberries. It achieved 5% market share in California pistachios in 2021 and secured national distribution via Helena, Nutrien, and Wilbur-Ellis. New board observers from Ordway, Cavallo, and iSelect joined, alongside directors Randy Papadellis and Susan Altschuller, positioning the company for growth amid demand for sustainable ag solutions. |
| Feb 2022 | Undisclosed stage | - | $61M | - | Vestaron is a developer of peptide-based biological crop protection solutions, focusing on novel bioinsecticides with unique modes of action to combat pest resistance and support sustainable agriculture. The company targets specialty fruit, vegetable, and nut crops, with expansion into broad acre row crops and new pest categories. Investors in proximate rounds include Anterra Capital, Novo Holdings, Northpond Ventures, and Syngenta Group Ventures. Earlier in May 2022, Vestaron closed its Series C funding at $82M total raised, which was oversubscribed with participation from lead investors Ordway Selections and Cavallo Ventures, alongside Argonautic Ventures, Fortistar, Endeavor8, and returning investors like Novo Holdings, Northpond Ventures, CGC Ventures, iSelect, and Syngenta Ventures. The funds supported product pipeline development and market expansion. In August 2022, an additional $10M was added to Series C, bringing the total to $92M with Grosvenor Food & AgTech joining. |
| Feb 2021 | Series B | Northpond Ventures (lead); Syngenta Ventures; Novo Holdings; Continental Grain Company; Anterra Capital; Cavallo Ventures | $18M | - | Vestaron is a biotechnology company developing peptide-based biopesticides to enhance the safety, efficacy, and sustainability of crop protection. Its flagship product, Spear, is a peptide-based insecticide targeting multiple pest species, applicable in tank mixes like conventional chemistries. In its Series B-1 financing announced on February 16, 2021, Vestaron raised $18 million led by Northpond Ventures, with new investors Cavallo Ventures joining existing backers Novo Holdings, Syngenta Ventures, CGC Ventures (Continental Grain Company), and Anterra Capital. The round was substantially oversubscribed, positioning the company for commercial expansion in North America, including the U.S., Mexico, and Canada. The funding aimed to build on Vestaron's commercial success, delivering innovations to more growers amid challenges like pest and environmental concerns in agriculture. CEO Anna Rath highlighted the crop protection industry's innovation drought, with rising development costs and slowing new active ingredients, emphasizing the need for sustainable solutions. Northpond Ventures' Director Adam Wieschhaus praised Vestaron's team and impact on environmental and human health, marking it as their first environmental sciences investment after 40 in scientific, medical, and tech sectors. Post-2021, Vestaron continued growth with an $82 million Series C round co-led by Ordway Selections and Cavallo Ventures, involving Northpond, Novo Holdings, Syngenta Group Ventures, and CGC Ventures, to advance Spear for row crops, contact-kill applications, and pipeline products Basin and Dictate targeting 2023-2024 launches. By 2022, Spear achieved 5% market share in California pistachios, distribution via Helena, Nutrien, and Wilbur-Ellis, and expansion into Mexico, with regulatory pursuits in Canada and the EU. In 2025, Vestaron raised over $20 million to accelerate global commercialization, focusing on North America and Europe, with Basin nearing full approvals. |
| Jun 2019 | Series B | Novo Holdings (lead); Pangaea Ventures; Open Prairie; Cultivian Sandbox Ventures; Continental Grain Company; Anterra Capital | $40M | - | Vestaron, a biopesticide developer based in Kalamazoo, Michigan, specializes in peptide-based crop protection products, including its Spear line targeting the nicotinic acetylcholine receptor, which addresses approximately 30 percent of the $18 billion global insecticide market. The company focuses on improving safety, efficacy, and sustainability in crop protection through novel biologic molecules with proven modes of action. In June 2019, Vestaron closed a $40 million Series B funding round led by Novo Holdings, with participation from continuing investors Anterra Capital, Cultivian Sandbox Ventures, Open Prairie Ventures, and Pangaea Ventures. This marked Novo Holdings' first investment in biocontrols and agtech, driven by parallels to pharmaceutical advancements. The funding supported Vestaron's pivot to commercialization, including launching its first Spear-based bioinsecticides, forming distribution relationships, expanding into new geographies, moving contract production to the Midwest from Europe, and accelerating pipeline development. Under CEO Anna Rath, the company had overcome key technical hurdles and demonstrated commercial viability of its initial product. Investors highlighted Vestaron's potential to become a major player in crop protection amid the industry shift from synthetic small molecules to biologics. Subsequent developments include a $82 million Series C round closed in May 2022, led by Ordway Selections and Cavallo Ventures, with participation from Novo Holdings and others. Vestaron continued milestones in peptide technology commercialization across North America. |
| Jul 2018 | Series A | - | $4M | $27M | Vestaron develops peptide-based biopesticides to improve crop safety, efficacy, and sustainability. On July 7, 2018, the company completed a Series A Prime funding round raising $4 million led by Anterra Capital and Cultivian, achieving a post-money valuation of $26.67 million. This round supported the company's early-stage efforts in commercializing novel bioinsecticides derived from spider venom peptides. |
| Aug 2016 | Series D | Anterra Capital (lead); Cultivian Sandbox Ventures (lead); Pangaea Ventures (lead); Michigan Accelerator Fund I; Open Prairie; Sandbox Industries; Charter Capital Partners | $18M | - | - |
| Oct 2014 | Series C | Anterra Capital (lead); Pangaea Ventures; Michigan Accelerator Fund I; Open Prairie; Cultivian Sandbox Ventures | $4M | - | Vestaron develops environmentally friendly insecticides using natural peptides with potent insect-killing potential that are safe for humans, birds, fish, the environment, and honeybees. These peptides employ new modes of action to prevent resistance and are also incorporated into crop plants or modeled for synthetic mimics. In late 2014, Vestaron closed an oversubscribed Series C round totaling $14M, with an additional $4M from lead investor Anterra Capital following a prior $10M. Continuing investors included Cultivian Sandbox Ventures, Michigan Accelerator Fund I (also referred to as Southwest Michigan First Life Science Venture Fund), Open Prairie Ventures, and Pangaea Ventures. |
| Aug 2014 | Series C | Cultivian Sandbox Ventures (lead); Pangaea Ventures; Michigan Accelerator Fund I; Open Prairie; Capital Community Angel Investors | $10M | - | Vestaron Corporation, a Kalamazoo-based company designing environmentally friendly insecticides using naturally occurring peptides, closed a $10M first close on its Series C Preferred Stock financing on August 21, 2014. The round was led by Cultivian Sandbox Ventures, with participation from existing investors including Open Prairie Ventures, Pangaea Ventures, Michigan Accelerator Fund, and Southwest Michigan First Life Science Venture Fund. The funding supports commercialization of Vestaron's first product, a biological insecticide approved by the EPA in February 2014, which offers a new mode of action safe for humans, birds, fish, honeybees, and the environment. Cultivian Sandbox Ventures, specializing in food and agricultural companies, joined as the lead investor, bringing expertise to aid Vestaron's transition from research and development to a commercial-stage company. CEO John Sorenson highlighted Cultivian's value in agricultural product commercialization. The round later became oversubscribed, adding $4M from Anterra Capital to reach $14M total. |
Who has invested in Vestaron?
19 investors have backed Vestaron across its funding rounds, including Novo Holdings, Anterra Capital, Pangaea Ventures, Cultivian Sandbox Ventures, Continental Grain Company and Open Prairie.
Lead investors include Grosvenor Food & AgTech, Cavallo Ventures, Ordway Selections, Northpond Ventures, Novo Holdings and 3 other investors.
Vestaron Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2019 | ||
| 4 | Lead | Aug 2014 | ||
| 4 | Participant | Aug 2014 | ||
| 4 | Lead | Aug 2014 | ||
| 4 | Participant | Jun 2019 | ||
| 4 | Lead | Oct 2014 | ||
| 3 | Participant | Feb 2021 | ||
| 3 | Lead | Feb 2021 | ||
| 3 | Participant | Aug 2014 | ||
| 3 | Lead | Feb 2021 | ||
| 2 | Lead | May 2022 | ||
| 2 | Participant | May 2022 | ||
| 2 | Participant | May 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialVestaron Competitors
Vestaron competitors include listed companies like Bioceres, Eden Research and Genvor, and private ones like Yemoja, Atarraya Inc and Wildtype.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $333M | ($10M) | $24M | 1.1x | ||
| Publicly listed | $6M | ($2M) | $22M | 2.8x | ||
| Private | - | - | $22M | - | ||
| Publicly listed | - | ($6M) | $19M | - | ||
| Private | - | - | $41M | - | ||
| Private | - | - | $43M | - |
Vestaron Public Comps
Vestaron is still privately-owned, but its public comps include Empresa Agroindustrial Pomalca, Agroindustrias San Jacinto, Duxton Farms, Proximar Seafood, AUGA Group, Nutravalor, Agroton Public, Agrícola San Juan, Bioceres and Agrometal.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| - | - | - | - | - | - | |||
| $14M | ($9M) | 7.3x | - | (11.4x) | - | |||
| $11M | ($8M) | 12.2x | 6.3x | (15.6x) | (18.9x) | |||
| $59M | $9M | 2.7x | - | 18.3x | - | |||
| $388M | $24M | 0.9x | - | 14.9x | - | |||
| $1M | ($934K) | 18.4x | 6.1x | (25.9x) | (3.5x) | |||
| - | - | - | - | - | - | |||
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Common questions about Vestaron
| When was Vestaron founded? | Vestaron was founded in 2005. |
| Where is Vestaron headquartered? | Vestaron is headquartered in Durham, NC, United States. |
| Is Vestaron publicly listed? | No, Vestaron is a private, VC-backed company. |
| What is Vestaron's valuation? | Vestaron was last valued at $27M in its Series A in July 2018. |
| How much funding has Vestaron raised? | Vestaron has raised $268M across 10 funding rounds. |
| What was Vestaron's last funding round? | Vestaron's last funding round was a $20M Series D in March 2025. |
| Who are Vestaron's investors? | Vestaron's investors include Novo Holdings, Pangaea Ventures, Open Prairie, Cultivian Sandbox Ventures, Continental Grain Company, Anterra Capital, Syngenta Ventures, Northpond Ventures, Michigan Accelerator Fund I, Cavallo Ventures and 9 others. |
| Which companies are comparable to Vestaron? | Companies comparable to Vestaron include Bioceres, Eden Research, Yemoja, Genvor, Atarraya Inc and Wildtype. |
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