Biopesticide developer AgroSavfe, a VIB spinout, has raised more than $38m in series C funding from investors including Qbic.

AgroSavfe, a Belgium-based biopesticide developer spun out of Vlaams Instituut voor Biotechnologie (VIB), on Tuesday completed a €35m ($38.6m) series C round involving VIB and university venture fund Qbic.
The deal also included spinout-focused investment fund Sofi, agrochemical supplier Globachem, Flemish government-owned investment firm Participatiemaatschappij Vlaanderen (PMV), private equity firm Gimv and VC firm Sofinnova Partners.
Investment group Ackermans and van Haaren, Agri Investment Fund, Kirkland and Ellis, Biovest and Madeli Participaties also participated in the round.
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