Equinom to accelerate growth after raising $10 million from investors
Equinom Ltd., a leading seed breeding startup, has closed a Series B funding round of $10 million.
Photo © Shutterstock.com/Madlen
Equinom Ltd. (Kibbutz Givat Brenner, Israel), a leading seed breeding startup, has closed a Series B funding round of $10 million, led by Germany-based BASF Venture Capital, France-based Roquette, Israel-based Trendlines Group, as well as Equinom’s current investor Fortissimo Capital, based in Tel Aviv, Israel. Equinom’s non-GMO, technology-driven breeding methodology harness natural genetic variations in plants to create smart seeds that are more nutritious that traditional commercial varieties, such as higher protein and oil content. The firm can also strategically breed seeds with increased crop yields.
“We also plan to launch our high-protein pea variety in 2021,” said Gil Shalev, CEO of Equinom, in a press release. “Equinom will continue working with plant-based food ingredients and food companies to help create tasty, ‘cleaner’ plant-based applications. We already have clients producing products with our smart grains, which provide higher quality, improved nutritional values, and lower production costs.”
“This investment round has been highly successful and combines financial investors as well as strategic investors, as well as VCs from multiple regions around the world,” added Shalev. “It will accelerate Equinom’s expansion globally and allow us to build talent and infrastructure to better serve our clients locally. Already, we have enjoyed phenomenal sales growth across four continents in 2019."
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