Israeli-based seed breeding startup Equinom, is designing advanced crops like “shatter-free sesame or high-protein peas without the need for genetic engineering. It has now closed a Series B funding round at $10 million. German-based chemicals giant BASF Venture Capital is leading this round and marks the first time it has invested in an Israeli-based company. The startup also received investment from Tel Aviv-based Fortissimo Capital and the French plant-based ingredients company, Roquette, which recently bagged a three-year deal with plant-based burger group Beyond Meat to significantly increase its supply of pea-protein.
Equinom’s CEO Gil Shalev said that the company is releasing a high-protein pea variety, expected in 2021, thanks to the demand for alt meat and dairy products growing.
Equinom was launched back in 2012 and its since come a long way. It now develops computerized breeding technology: “Equinom’s technology is groundbreaking in the plant protein value chain and supports the rising trend towards meat alternatives,” – Markus Solibieda; Managing Director of BASF Venture Capital.
“Equinom also offers high-oil-content sesame that enables flexible cultivation options. Shatter-resistant sesame, one of Equinom’s flagship crops, can be harvested mechanically and grown around the world. This allows farmers to grow locally to meet the rising demand for this customized oilseed, which produces some of the highest oil content in the industry and is rich in fiber, vitamins and minerals. Equinom’s sesame sets the ground for the advancement of a more responsible supply chain, greater price stability and cost-effective growth.”
Learn more about Equinoms investments & the future of pea protein in a busy plant-based market @agfunder