Equinom Lands $20M Series C To Develop Ingredients For Sustainable Nutrition – Crunchbase News

Israel-based Equinom raised new capital in a $20 million Series C spherical Tuesday to proceed growing its non-GMO seed breeding know-how aimed toward making “smarter seeds” for plant-based meals.

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Phoenix Insurance Co. led the spherical, and was joined by Fortissimo Capital, BASF Venture Capital, Trendlines Group and Maverick. The new money infusion brings the corporate’s whole funding to $36 million, in line with Gil Shalev, founder and CEO of Equinom.

With a background in plant breeding, Shalev mentioned he based the corporate in 2012 to develop know-how for breeding new sorts of seeds that can yield new substances for higher vitamin.

“We wish to take genes and use a know-how, that’s non-GMO and non-gene edited, to develop substances with a number of traits which might be already out there available in the market,” he advised Crunchbase News.

This comes as more consumers are concerned about the kinds of food they eat and the way they’re made. The marketplace for various meat, eggs, dairy and seafood merchandise is predicted to succeed in at the least $290 billion by 2035, in line with analysis by Boston Consulting Group and Blue Horizon Corp. Food corporations are responding to these considerations, with non-GMO seeds being one of many choices, Shalev mentioned.

Equinom’s seeds and legumes.

The new funding will allow Equinom to broaden its operations in gross sales, advertising, and analysis and improvement throughout the globe. In October, the corporate will introduce a brand new pea protein that can value 4x decrease than related proteins and be extra nutritious, Shalev mentioned.

“This will disrupt the plant protein business,” he added. “The new funding will assist us scale up as we’ve accomplished the R&D course of.”

Over the previous 12 months, the corporate was executing R&D on sesame crops and breeding various legumes. Currently, Equinom has greater than 100,000 acres grown throughout 5 continents and has secured hundreds of thousands of {dollars} in contracts with market-leading meals manufacturers.

Elad Givoni, head of personal fairness at Phoenix, mentioned in a written assertion that Equinom “is uniquely positioned within the agtech area as a significant participant who can influence the way forward for meals.

“Through its proprietary know-how, distinct methodology and distinctive genomic database, Equinom is ready to create a variety of merchandise for a broad spectrum of business meals functions, whereas making certain that the merchandise will be shortly tailored to quickly altering market wants,” he added.

The Equinom staff, with founder and CEO Gil Shalev within the center, in addition to inset picture, courtesy of Equinom.
Blogroll illustration: Dom Guzman

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