Plastomics, a leader in agricultural biotechnology, has completed the initial close of its Series B round, securing $5.8 million to accelerate innovation in crop science through its proprietary chloroplast engineering platform. The round included investments from Fulcrum Global Capital, Lewis & Clark Partners, Skull Diamond and Heart Capital, Missouri Technology Corporation, BioGenerator Ventures, and others.
The new funding will enable Plastomics to accelerate development of transgenic traits within corn chloroplasts—an industry first—building on its commercial breakthrough in soybean transformation. Over the next two years, the company plans to advance field trials of its soybean platform and further enhance its insect- and herbicide-resistance traits.
Plastomics’ chloroplast engineering platform provides several advantages over conventional gene delivery, including eliminating pollen outcrossing, enabling maternal inheritance, increasing trait durability and predictability, and reducing unintended genetic effects.
KEY QUOTES:
“We’re thrilled to support Plastomics as they pioneer chloroplast-based trait delivery and set a new standard in agricultural biotechnology in general. The company’s world-class team is working to transform the way traits are introduced into crops, accelerating development of varieties that are more resilient, productive, and sustainable.”
John Peryam, Co-founder and Managing Partner, Fulcrum Global Capital
“This investment is a powerful validation of our technology and vision. In a challenging economic climate, raising close to $6 million from top-tier ag-focused investors speaks volumes about their belief in our ability to deliver the first-ever transgenic traits in the chloroplasts of corn.”
Tania Seger, Chief Executive Officer, Plastomics
