KIBBUTZ GIVAT BRENNER, ISREAEL — Seed breeding start-up Equinom, Ltd., secured $10 million in a Series B funding round led by Germany-based BASF Venture Capital, Roquette and Trendlines Group.
The start-up will use the capital injection to expand its crossbreeding technology, which produces non-GMO seeds with higher nutritional profiles and increased crop yields. It also plans to launch a high-protein pea variety in 2021.
“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,” said Gil Shalev, chief executive officer at Equinom, Ltd. “It will accelerate Equinom’s expansion globally and allow us to build talent and infrastructure to better serve our clients locally.”
Equinom was the first company to design seeds exclusively for the food industry. It uses advanced sensory technologies and analytics systems to create seeds that contain more protein and oil than traditional commercial varieties. It also works to connect food companies to the supply chain to support more transparent and responsible plant protein sourcing.
The company already has become a leading supplier for sesame seeds by generating mechanically harvestable varieties, which now are grown worldwide.
“Equinom will continue working with plant-based food ingredients and food companies to help create tasty, ‘cleaner’ plant-based applications,” Shalev said.