Innovative Dutch potato-breeding and biotechnology company Solynta has secured a 16-million euro series-B financing round by new investors Fortissimo Capital and Innovation Industries, alongside existing investors. The Wageningen University & Research spin-off will use the investment to continue its potato-breeding activities and to build a strong commercial organization that can address the challenges in the global potato supply chain.
Solynta, headquartered in the Netherlands’ center of agricultural innovation, Wageningen, has invented and established hybrid potato breeding based on pure inbred parent lines. This is recognized worldwide as a game-changing (non-GMO) breeding technology platform. The technology enables a seed-based supply chain which would allow 25 grams of seeds as starting material instead of 2,500 kilograms of tubers. This financing round offers Solynta the opportunity to scale-up its activities.
Support global food security
The innovative technology also allows fast and predictable breeding for beneficial traits, such as disease resistances, thus reducing the need for multiple pesticide applications. In this way Solynta will finally unlock the $70 billion farm-gate value crop. Solynta potatoes will not only improve potatoes, crisps and fries in the developed markets, but will also support global food security through excellent starting material.