The amount of the deal was not disclosed.
The company intends to use the funds for a science advancement initiative designed to accelerate the development of Plastomics’ technology and a new chloroplast-expressed insect control trait collaboration currently in development.
Founded in 2016 by Jeffrey Staub, Ph.D., Chief Science Officer, Plastomics is a plant biotechnology company using through chloroplast engineering to help farmers meet the challenges facing agriculture today: population growth, climate change, water scarcity, pests and weeds.
The company recently announced the closing of an early round of seed funding with investments from BioGenerator and The Yield Lab, both St. Louis-based investors.
TechAccel is a technology and venture development organization focused in agriculture and animal health. The company invests in innovative technology and funds science advancement programs to accelerate readiness for commercialization.