Israeli seed breeding company Equinom has raised $10 million in a financing round led by BASF Venture Capital and with the participation of existing investors Fortissimo Capital and Roquette. Trendlines Agrifood Fund Pte. Ltd., which announced the financing round is investing $1.6 million.
Equinom’s non-GMO technology optimizes seed functionality to increase plant yield, higher nutritional value, disease resistance and more.
Equinom CEO Gil Shalev said, "We strategically crossbreed plants for targeted characteristics, often reintroducing important characteristics that have been inadvertently bred out of ordinary varieties - to produce crops with highly desirable traits. Our proprietary computer algorithm and big data meet crop yield, quality and trait objectives in a way that no other seed-breeding company has done before, which also cuts time to market by years."
Trendlines Agrifood Fund CEO Dr. Nitza Kardish said," The Fund’s investment in Equinom corresponds with our investment focus to invest in growth stage companies that have the potential to make a real difference to yields, nutritional value, and sustainability of crops. Equinom’s technology and products has the potential to meet all these criteria."
As a key investor in the Trendlines Fund, UK entrepreneur Vincent Tchenguiz said, "Investing in more sustainable food production systems that mitigate climate change is paramount in tackling the challenges of this century caused by climate change. Our investment in Trendlines and in the Agrifood Fund represents our firm belief in the potential of technologies in the agrifood portfolio to have a profound positive impact on the global food production footprint. This comes at a time when our plant’s environment is changing so dramatically and the need for sustainable solutions in the production of food is so great."
Published by Globes, Israel business news - en.globes.co.il - on February 19, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020