Equinom, a seed breeding startup, has closed its Series B round of funding of US$10 million, led by BASF Venture Capital, Germany followed by Roquette, France; and Trendlines Group, Israel.
Equinom’s current investor, Tel Aviv-based Fortissimo Capital, also participated.
The company’s non-GMO technology designs smarter seeds via a breeding methodology that harnesses natural genetic variation in plants.
Smart seeds are reportedly more nutritious than traditional commercial varieties, featuring protein and oil contents among the highest in the market.
Equinom introduces such high-value characteristics and organoleptic properties by combining advanced sensory technologies with high-throughput protein analysis systems.
CEO Gil Shalev founded the company eight years ago with a drive to feed the world with nutritious, high protein food.
He recognized the need to improve the food supply and make it more affordable, with a primary focus on the source of the challenge – seeds and legumes.
Equinom has been building a new ‘ecosystem’ that directly connects food companies to the supply chain, bringing greater transparency and paving the way for more responsible sourcing of high-value plant protein.
Today, it is breeding non-GMO seeds with higher nutritional profiles and increased crop yields, designing seeds exclusively for the food industry, enabling clients to choose specific varieties for their needs.
In five years, the company has become the preferred supplier for sesame seeds by generating mechanically harvestable varieties.
These seed stocks are now being grown worldwide.
It plans to launch a high-protein pea variety in 2021.