New Firm Uses Biology to Target Invasive Species
A new company that seeks to eradicate invasive species has completed its first fundraising round.
Invasive Species Corp.'s first focus products, Zequanox and Piscamycin, provide cost-effective solutions to eradicating the highly invasive Zebra & Quagga Mussels, as well as Asian Carp. These invasive species have massively disrupted the Great Lakes and Mississippi River ecosystems, and also cause massive damages to marine infrastructure and surrounding economies.
The round was led by Silverstrand Capital, a Singapore-based single-family office that committed $2.5m to accelerate growth and bring additional products to market. Peter Kennedy will represent Silverstrand on ISC’s board of directors and take on a senior management role.
Invasive species are a $400 billion annual problem with few safe or economically viable solutions that is responsible for 60% of global extinctions, and have been the sole driver of 16% of recorded extinctions. The UN reports estimated the global economic cost of invasive species in 2019 at $423 billion annually.
“One million species of plants and animals are now at risk of extinction,” said Kelvin Chiu, founder and principal of Silverstrand Capital. “We look for effective ways to combat biodiversity loss globally. Developing natural, sustainable control solutions that restore the natural balance in land and sea ecosystems is the type of crucial work that we want to support and encourage.”
Invasive species have a large social cost too, particularly for indigenous peoples and local communities, through the loss of traditional livelihoods and knowledge, reduced mobility and access to land, and increased labor needed to manage the invasive alien species.
“When we decided to create a company to combat the effects of invasive species, we were determined to help counteract the serious impacts of invasive species with effective and environmentally responsible biological solutions,” commented Dr. Pam Marrone. “We have the experience to rapidly discover and deploy the solutions that Nature already provides, to address these issues using specific microorganisms and other natural products.”
Mr. Peter Kennedy added “I have known and invested with Pam for many years, and we believe her team has the experience needed to address one of the largest and most under-served opportunities in the ag tech space.”
ISC’s first focus products, Zequanox and Piscamycin, provide cost-effective solutions to eradicating the highly invasive Zebra & Quagga Mussels, as well as Asian Carp. These invasive species have massively disrupted the Great Lakes and Mississippi River ecosystems, and also cause massive damages to marine infrastructure and surrounding economies.
The fundraise will be used to improve and expand on their product lines, and to continue developing stronger customer relationships.