Sun. Jun 4th, 2023

INDIANAPOLIS — Equinom secured $35 million in funding to bring more of its optimized plant proteins to market.
The Indianapolis-based company uses its proprietary Manna technology platform to breed new non-GMO varieties of key crops, including pea and soy. The technology leverages advanced algorithms to characterize biochemical and genomic traits in seeds, enabling the development of new ingredients with improved taste, color, protein content and more.
The new capital will accelerate the commercialization of Equinom’s plant-based protein ingredients, which will be sold to food companies via established multinational ingredient suppliers. The company also will invest in seed development and grain production of its ultra-high protein varieties of non-GMO soy and pea, along with research and development into ongoing breeding programs for additional protein source crops, including chickpea, fava, mung bean and cowpea.
The $35 million capital raise was led by Synthesis Capital with additional investment from Praesidium, Bunge Ventures, BayWa, CPT Capital and returning investors Fortissimo and Phoenix. It brings Equinom’s total funding to more than $71 million.
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