Equinom, an Israeli agtech startup offering plant based nutrition solutions, raised $35 million in funding led by Synthesis Capital (Synthesis), a leading global food technology and alternative protein investor. Including a $20 million Series C financing round the company held in June 2021, Equinom has now brought in more than $71 million to date.
Equinom has an innovative method for improving seeds which the company states allows it to also offer high-quality source ingredients.
Israel has always been at the forefront of aggrotech since the early days of the first Zionist settlements. The country may now be known more as Startup Nation for all of its success in the high tech world. But until recently it was best known for its agricultural innovations. The pioneers of early Israel famously drained swamps, planted orange groves (oranges are not indigenous to the Middle East) and irrigated deserts to grow all sorts of crops. Israel was so successful at this that the country early on sent experts to help third world nations in Africa develop their own agriculture. Nowadays Israelis have combined their country’s history of agricultural innovation with its high tech innovation.
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Founded in 2012, Equinom is a computational breeding company which declares that it is revolutionizing the seed industry by introducing a new model of seed providers. The company states that they are creating a gene-bank where food developers can find ingredients that meet exact specification, provided these exist in nature.
“Envision all-natural ingredients that don’t require processing – by nature, the source seeds do the hard work for you. Visualize expediting production and speeding your products to consumer shelves. Vividly picture that consumers rave about your products’ appeal, high protein and nutritious clean labels.”
“I’m excited to work with Synthesis and our other investors who clearly see the food revolution taking place and the huge opportunity to develop better plant protein ingredients – optimized from the ground up for the relevant food and beverage applications,” said Equinom co-founder and CEO Gil Shalev.
Shalev added that the new capital will be used to deliver Equinom’s message and its next generation, non-GMO ingredients to food companies that he described as, “ready to unlock category growth by delivering tastier, healthier, sustainable and affordable food options to every plate in the world.”