IMIO Raises $12M in Funding led by Sofinnova Partners

IMIO, a Chicago, IL-based provider of agricultural biologicals that improve crop performance, nutrient efficiency, and soil function, has raised $12 million in a funding round led by Sofinnova Partners

The round also saw participation from Chipotle’s Cultivate Next venture fund, Starshot Capital, Grow Together Fund, Earth Foundry and Serra Ventures.

The company will use the funding to develop a new laboratory and biomanufacturing operations in Chicago.

What is IMIO?

IMIO develops biological products that help improve crop performance, nutrient efficiency, and soil health.

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Its Re-Gen products for produce and row crops use a combination of fungi, bacteria, and yeast to break down crop residue left after harvesting. This process releases nutrients back into the soil and helps improve soil health and crop growth.

The company uses a specialised manufacturing process in which microbial strains are grown and tested separately, combined in precise ratios, and freeze-dried to preserve their viability during storage, transport, and application.

How Much Funding Has IMIO Raised?

IMIO has raised $12 million in its latest funding round. The source does not provide details of previous funding rounds or the company's total funding raised to date.

Who Invested in IMIO’s Funding Round?

The $12 million round was led by Sofinnova Partners.

Other participating investors include:

• Chipotle’s Cultivate Next venture fund
• Starshot Capital
• Grow Together Fund
• Earth Foundry
• Serra Ventures

Why the Funding Matters

IMIO will use the funding to support the development of a new laboratory and biomanufacturing operations in Chicago.

The investment will support the company's work on producing reliable, concentrated biological products for commercial agriculture.

Who founded IMIO?

IMIO was founded by Charles Smith and Victoria Holden. The company is based in Chicago, Illinois. The source does not provide its founding year.

Charles Smith, Founder and CEO at IMIO, said, “Farmers deserve trustworthy partners and products. The work they do is vital for all of us who need to eat food, and they’re facing an extremely challenging market. We understand why they’re skeptical of biologicals, and we appreciate the trust they put in us when they use our products.

Kirk Stueve said, "A lot of biologicals have great marketing strategies and sales teams but struggle to deliver in reality. From what we've seen so far, IMIO is an outlier. The team there cares about helping farmers make money while improving soil health. They're with us every step of the way, assisting with interpretations, offering insights, and listening to our concerns.

Market and Business Growth

IMIO develops biological products for farmers facing rising production costs and pressure on farm income.

Its Re-Gen products are designed to help break down crop residue, return nutrients to the soil, and support crop performance. The company's manufacturing process aims to produce consistent, shelf-stable biological products for commercial use.

What Happens Next?

IMIO plans to develop its new laboratory and expand its biomanufacturing operations in Chicago. These facilities will support its work on agricultural biologicals designed to improve soil function, nutrient efficiency, and crop performance.

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