Aphea.Bio & Astanor ›

Fact panel

The what: Aphea.Bio, a Series C company

Problem addressed:

Biological inputs play a crucial role in tackling the climate crisis by reducing the environmental impact of chemical inputs in the agricultural sector, one of the largest contributors to greenhouse gas (GHG) emissions. Conventional fertilizers and pesticides, particularly those based on synthetic nitrogen, are energy-intensive to produce and release significant amounts of nitrous oxide (N2O), a potent greenhouse gas. Furthermore, Chemical inputs, such as synthetic fertilizers and pesticides, damage biodiversity by disrupting soil microbiomes, harming non-target species like pollinators, and contaminating surrounding ecosystems through runoff and residue.

Solution provided by Aphea.Bio

Aphea.Bio, a spin-off of the University of Ghent, the Free University of Brussels (VUB) and the KU Leuven, is dedicated to food security and ensuring a safe and healthy food chain. From 2017, the scale-up company developed microorganism-based biocontrols and biostimulants to reduce crops diseases and pests and increase crop yields. With its R&D platform, APEXbio™, Aphea.Bio supports farmers in transitioning to regenerative agriculture thanks to the reduction in chemical inputs, one of the key pillars of regeneration. The platform can detect, amongst the millions of microorganisms present in and around the plant, those that effectively improve the plant’s growth and health. By its unprecedented business model Aphea.Bio increase yield and protect commodity crops such as wheat and corn, which offers significant impact and financial opportunities.

The how: Astanor, an impact investing fund

General presentation of Astanor

Astanor is a global impact fund that backs ambitious entrepreneurs with disruptive, scalable solutions that will create systemic change across the agrifood value chain, from soil to gut. With a demonstrated commitment to sustainability and impactful investments, Astanor identifies and nurtures companies that harness technology to drive positive change.

Intentionality

Astanor takes a holistic approach to transforming the agri-food sector from being an extractive system into one of the greatest sources of regeneration for people and the planet. Since its founding six years ago, Astanor’s mission has been to drive the shift from an extractive model towards one that is regenerative, protective, and capable of providing affordable, nutritious food to a growing and evolving global population. Their strategy is rooted in a sector-wide Theory of Change (TOC), which serves as a north star for all investment decisions, connecting individual portfolio companies to broader goals such as enhancing soil health, reversing biodiversity loss on land and in oceans, supporting the bioeconomy, decarbonizing food production, and fostering resilient rural communities. Their intentional collaboration with scientists, policymakers, activists, and tech entrepreneurs not only strengthens their own portfolio’s impact but also encourages greater transparency across the sector, inspiring others to join in building a more sustainable and equitable food system. In doing so, Astanor does not just aim for individual company success, but for systemic change at industry level.

Impact measurement and management

Astanor’s impact measurement and management (IMM) practices are rigorous and integrated into every stage of the investment process. Based on its own TOC, Astanor supports its investees in building internal impact measurement systems. A key focus is defining appropriate impact metrics, drawing from six core KPIs developed by Astanor and using the impact valuation methodology1. In the first year after investment, Astanor actively helps companies build their capacity to measure both environmental and social outcomes, with particular attention to quantifying their avoided impact, the net positive effect of their solutions compared to conventional industry practices. This is achieved through quantitative assessments, engagement with expert networks, and Life Cycle Assessments (LCAs) for environmental impact evaluation. Astanor also performs annual ESG assessments to benchmark companies’ ESG capabilities against peers and identify areas for internal improvement, helping companies build resilient, future-proof practices. Astanor has institutionalized impact governance through an internal Impact Committee, ensuring continuous alignment with its mission to drive systemic transformation in the agrifood sector.

1 Impact valuation methodology is a framework for assessing and quantifying the social and environmental value created (or destroyed) by an organization, often by translating impacts into comparable, monetary or non-monetary terms, allowing these impacts to be measured alongside financial performance for more holistic decision-making.

Additionality

Astanor delivers both financial and non-financial additionality by investing in early and growth stage agrifood companies where its active support, strategic guidance, and long-term impact alignment help unlock value and scale solutions that might otherwise struggle to access purpose-aligned capital. Astanor plays a deeply engaged role in helping its portfolio companies strengthen impact strategies, define tailored KPIs aligned with its Theory of Change, and improve operational performance. Through initiatives like quarterly Impact Community meetings and the Impact CEO Summit, Astanor fosters peer learning and ecosystem development. Its hands-on support, backed by a network of advisors and sector experts, ensures that companies not only meet, but exceed, current sustainability standards.

For Aphea.Bio, Astanor facilitated an LCA on its biostimulant products and supported collaboration with Ghent University to better assess soil health measurement. Astanor also guided Aphea.Bio through its B Corp certification process.

More information

• Aphea.bio
• Astanor
• Impact creation report Astanor