Israeli startup Equinom announced last week it has received investment from BASF Venture Capital, the lead investor in a fresh funding round. Equinom says its expertise in computerised breeding technology is changing the market for plant-based food applications, such as meat alternatives.
Existing investors who also participated in this round included Fortissimo Capital and Roquette, a global leader in plant-based ingredients for food, nutrition and health markets. With this investment, BASF Venture Capital promotes BASF’s strategy of applying innovative solutions in agriculture.
Equinom uses computerized breeding technology provides optimized seeds for the food industry to help it meet growing demand for plant-based products used as ingredients, clean label packed goods and healthier lifestyle cuisine. The company is introducing high-protein legumes, such as soybeans, peas, chickpeas, cowpeas, mung beans, fava beans and quinoa.
Shatter-resistant sesame, one of Equinom’s flagship crops, can be harvested mechanically and grown around the world, allowing farmers to grow locally to meet the rising demand for this seed which produces some of the highest oil content in the industry. Equinom’s sesame allows for the advancement of a more responsible supply chain, greater price stability and cost-effective growth..
“This is our first investment in an Israeli company,” said Markus Solibieda, Managing Director of BASF Venture Capital. “Equinom’s technology is groundbreaking in the plant protein value chain and supports the rising trend towards meat alternatives. With this investment in Equinom, we are strongly boosting BASF’s strategy of optimizing crops and promoting sustainability and healthy food to nourish the planet.”