Biotech startup Kaiima raises $65 million
The company has a system for developing high-yielding crops without making genetic modifications.
Kaiima Bio-Agritech, a biotech startup that develops high-yielding crops without making any genetic modifications, said Tuesday it had raised more than $65 million in equity from three new investors, as well as some existing ones.
The three new investors were Horizons Ventures, which manages the private technology investments of Asia's richest man Li Ka-shing, the World Bank's private sector arm International Finance Corp and Infinity Group, a China-focused, private equity fund, the company said.
Existing investors include DFJ, DFJ-Tamir Fishman, Mitsui, KPCB, Oberlee and Musea Ventures.
Kaiima's EP technology multiplies the plant's genome without compromising its integrity. This technology is implemented within the genome of crops that are vital to global food security, as well as specific energy crops, to boost productivity and improve land- and water-use efficiencies.
By 2050, farmers will need to produce 70% more food than they do today to sustain the growing world population, said Kaiima CEO Doron Gal. The name itself the Hebrew word for sustainability.
"This is a daunting challenge that modern agricultural technology must rise up to meet. The strategic alliance we have formed with our new investors fuels our rapid advances in yield enhancement technology," he said.