Tropic Biosciences, a Norwich, UK-based leader in the development of new plant varieties in the massive tropical agriculture industry using CRISPR Gene Editing, closed a $10m Series A funding round.
The round was led by Pontifax AgTech and by Five Seasons Ventures, which are joined by several experienced co-investors, including, Tekfen Ventures, Emerald Technology Ventures, Bits x Bites, Midven-RSF and the Family Offices of Mr Gigi Levy-Weiss and Mr Antonio Moreira Salles. In conjunction with the funding, Ben Belldegrun, Founder and Managing Partner of Pontifax AgTech, and Niccolo Manzoni, Founder and Managing Partner of Five Seasons Ventures, have been appointed to the Board of Directors.
Led by CEO Gilad Gershon, CSO Dr Eyal Maori, and CTO Dr Ofir Meir (CTO), Tropic Biosciences is a biotechnology company focused on utilizing advanced plant breeding and gene editing technologies to develop commercial tropical crops, namely coffee and bananas. The company employs 17 industry-leading professionals.
The company intends to use the funds to commercialize its novel non-GMO coffee and banana varieties, globally expand into additional promising crop segments, to drive regulatory approval processes for these plant varieties, continue developing proprietary technologies for use in the development of novel plant varieties, and expand its efforts to additional, globally critical crop varieties beyond coffee and bananas.