ICL Group Ltd. and Evogene Ltd. announced a multi-year, strategic, collaboration agreement between ICL and Lavie Bio Ltd., a subsidiary of Evogene. Lavie Bio is a leading ag-biologicals company focusing on improving food quality, sustainability and agriculture productivity through the introduction of microbiome-based products. Lavie Bio's unique approach uses Evogene's tech engine MicroBoost AI, leveraging big-data, advanced artificial intelligence (AI), in combination with a deep understanding of biology.

As part of the collaboration, ICL will make a $10 million investment in Lavie Bio under a SAFE (simple agreement for future equity). The investment will be made via ICL Planet Startup Hub, which is the platform ICL uses to invest in and collaborate with innovative companies in the foodTech and agriTech domains. The collaboration will focus on developing novel bio-stimulant products to enrich fertilizer efficiency.

Combining Lavie Bio's ag-biologicals expertise and cutting-edge technology with ICL's advanced knowledge of fertilizer use and farmers' needs is aimed to facilitate the development of new and innovative products for the agriculture industry.