KALAMAZOO – Vestaron Corp. seeks to raise $12 million in investments to enable the company to bring to market its environmentally friendly pesticide based on spider venom.
Vestaron closed in late June on the first round of the capital raise, netting more than $4.2 million from five existing investors. The capital will go toward producing product at scale for the first time, setting up distribution channels and hiring key senior managers, said CEO Anna Rath.
Vestaron should bring its first product, named Spear, to market “very soon” for greenhouse vegetables and ornamentals, Rath said.
A second product for Vestaron’s first generation “family of products” could follow in 2019 for high-value field crops, she said.
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