Plant protein developer Equinom secures $35 million in new funding
The capital raise was led by food technology and alternative-protein investor Synthesis Capital.
Equinom (Indianapolis), a company using its Manna artificial intelligence platform to develop non-GMO ingredients such as protein, recently secured $35 million in funding. The capital raise was led by food technology and alternative-protein investor Synthesis Capital and also included investments from Praesidium, Bunge Ventures, BayWa, CPT Capital, Fortissimo, and Phoenix. Equinom has received $71 million in total funding so far.
The company’s goal is to bring plant protein ingredients to market. Specifically, it “breeds new non-GMO varieties of the plant-based food industry’s primary source crops, including pea and soy, optimized specifically for food so they require only minimal processing, thereby improving taste and nutrition and reducing cost and complexity.”
The company’s Manna tool uses algorithms to “characterize the biochemical and genomic traits in a vast array of seed varieties, enabling the development of new ingredients with desirable traits for food production (such as mild taste, light color, high protein, etc.)—all without genetic modification.”
The company says it will use the new funding to accelerate commercialization of protein ingredients, including investing in seed development.
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