🏆 Deal of the Week · CW 43/2022
Neoplants raised USD 20 million in a Seed round in October 2022; the post-money valuation was not disclosed. The round drew backing from a syndicate of five investors spanning Europe and North America, with no single lead publicly designated.
Neoplants — key deal facts
| Company | Neoplants |
| Founded | 2018 |
| Headquarters | Paris, France |
| Amount raised | USD 20M |
| Valuation | Valuation Remains Undisclosed |
| Round | Seed |
| Investors | Collaborative Fund (https://collabfund.com/) Entrepreneur First (https://www.joinef.com/) Heartcore Capital (https://www.heartcore.com/) Niklas Zennström True Ventures (https://trueventures.com/) |
| Sectors | Biotechnology |
Who invested in Neoplants?
The investor syndicate comprises Collaborative Fund, Entrepreneur First, Heartcore Capital, True Ventures, and individual participant Niklas Zennström. The mix is notable for combining specialist climate-and-consumer-focused venture funds (Collaborative Fund, True Ventures) with a deep-tech talent investor (Entrepreneur First), a European growth fund (Heartcore Capital), and a high-profile founder-operator in Zennström, co-founder of Skype and founder of Atomico. This breadth of institutional and angel capital across two continents reflects the cross-sector relevance of Neoplants' bioengineering approach.
What does Neoplants do?
Neoplants, founded in 2018 and headquartered in Paris, France, is a biotechnology company that genetically engineers houseplants and soil microbiomes to metabolize indoor air pollutants. Its flagship product, the Neo Px (also known as Neo P1), is a bioengineered Golden Pothos designed to remove volatile organic compounds (VOCs) such as formaldehyde and benzene, performing up to 30 times more effectively than an unmodified houseplant. The company was co-founded by Patrick Torbey, who holds a PhD in genetic editing and serves as CEO, and Lionel Torbey, formerly of Google.
Neoplants valuation & multiples
No existing multiples analysis was supplied for this deal, and the post-money valuation remains undisclosed, precluding any EV/Sales or EV/EBITDA calculation at this stage. Once market comparables and revenue figures become available, standard biotechnology sector multiples will apply. Readers can explore prevailing valuation multiples for the biotechnology sector on the relevant Venionaire DealMatrix sector multiples pages.
Explore the benchmarks: Seed.
Frequently asked questions
How much did Neoplants raise in its Seed?
Neoplants raised USD 20 million in a Seed round in October 2022.
What is Neoplants's valuation?
Neoplants' post-money valuation was not disclosed in connection with this Seed round.
Who invested in Neoplants?
The Seed round was backed by Collaborative Fund, Entrepreneur First, Heartcore Capital, True Ventures, and Niklas Zennström.
When was Neoplants founded and where is it based?
Neoplants was founded in 2018 and is headquartered in Paris, France.
Source: original announcement — read the full report.