Evologic Technologies
- Founded in: 2016
- Number of employees: 7
- Country: Austria
- Investors: BayWa, Raiffeisen Waren Austria, Fritz Mauthner Handelsgesellschaft m.b.H. & Co. KG, Vivida Beteiligungsgesellschaft GmbH
- Market: The crop protection market has a volume of about 51 bn. The biostimulant market, as a subsegment of the crop protection market, has a volume of approx. 1.5 bn. However, it is forecast to grow to 2.7 bn by 2022. The symbiotic fungi, sold as seed coating agent addresses this world wide biostimulant market.
- Website: http://www.evologic-technologies.com/
Which input provides your business model/core technology towards a bio-based economy?
Evologic Technologies is producing a symbiotic fungus as seed coating, to help farmers over the world grow more with less fertilizer. Thereby this natural fungus greatly helps to increase sustainability in agriculture. Moreover, our core technology of producing hairy roots in a bioreactor allows us to produce secondary plant metabolites (complex chemical molecules) non-GMO in a bioprocess rather than by chemical synthesis.
Which market/clients do you address and which short-term/long-term goals do you have?
Evologic targets the biostimulant market, with a current volume of 1.5 bn and growing by 11% per year. Our clients are seed distributors which receive our fungi formulation to coat their seeds prior to distribution to the farmers. This allows a high-quality seed coating process and consequently facilitates high efficiency of the fungi. Within the next 24 months we are planning to reach our final cost of goods target to start selling our product. Our long-term goal is to become one of the leading providers for high quality biostimulants for seed coating.
What makes your approach unique compared to other stakeholders in the field?
The production approach of Evologic Technologies for this symbiotic fungus is unique. No competitor worldwide has succeeded in producing this fungus in a scalable bioprocess. Moreover, our application is unique, instead of supplying farmers directly for an in-furrow application, we supply seed distributors with the seed coating to ensure a high-quality product application.
You can meet Evologic Technologies in Toulouse at the START-UP VILLAGE @EFIB on 17-18 October.