Kaiima Bio-Agritech Ltd., an Israel-based seed-and-breeding technology company, announced today that it had raised more than $65 million in equity from three new investors as well as some current ones. The three new investors are: Horizons Ventures, which manages the private investments of Li Ka-shing in Internet and technology globally; the International Financial Corporation (IFC), a member of the World Bank Group and Infinity Group, a cross-border, China-focused, private equity fund and innovation platform. Existing investors include: DFJ, DFJ-Tamir Fishman, Mitsui, KPCB, Oberlee and Musea Ventures.
Kaiima's proprietary Enhanced Ploidy technology multiplies the plant’s genome without compromising its integrity. This non-GMO technology is implemented within the genome of crops that are vital to global food security as well as specific energy crops, to significantly boost productivity and improve land and water-use efficiencies.
“We are pleased that Horizons, the IFC, and Infinity Group have chosen to join our investor family as they recognize the value that Kaiima’s technology can bring to the world,” said Kaiima chairman Jeffrey Beard, “Rather than protect against yield loss, as many GM technologies are designed to do, Kaiima’s non-GMO technology is the first since hybridization that actually boosts yield.”
“By 2050, farmers will be tasked to produce 70% more food than they do today to sustain the growing world population,” said Kaiima CEO Dr. Doron Gal, “This is a daunting challenge that modern agricultural technology must rise up to meet. The strategic alliance we have formed with our new investors fuels our rapid advances in yield enhancement technology, and positions Kaiima to become an outstanding participant in the global fight against hunger.”
“Infinity's investment in Kaiima is at the heart of its strategy to invest in world-leading Israeli technology companies with high impact potential in the Chinese market,” said Mark Chess, a managing director at Infinity Group. “We are convinced that Kaiima's technology is a game changer for the agricultural industry. With China's increasing urbanization and growing middle class, the requirement for a significantly greater food supply is a critical imperative. Kaiima's ability to increase yield and food production for major crops such as wheat, corn and rice provides a tremendous opportunity. Infinity is honored to collaborate with its new co-investors IFC and Horizons Ventures to assist Kaiima in its pursuit of global opportunities.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2013
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