KALAMAZOO — With $18 million in additional capital, Vestaron Corp. approaches the final leg of an 11-year journey to the marketplace.
The Kalamazoo-based Vestaron, which developed a bio-pesticide based on spider venom, recently closed on a Series D round with investors. The funding will go to build a distribution and sales channel directly to ornamental and vegetable greenhouses. The company also continues to develop further variations of the product for other commercial uses.
CEO John Sorenson expects the first product variation to hit the market late this year or in early 2017.
“We’re pretty much set,” Sorenson told MiBiz.
Finally approaching commercialization and market entry “feels like a great relief on one hand, and a thousand different new things to deal with on the other,” he said.