Temasek leads $28.5m series-B for Tropic Biosciences

Sumitomo Corporation Europe, Genoa Ventures, Agronomics and Skyviews Life Science are new investors in the company. Existing investors Pontifax AgTech, Five Seasons Ventures, Tekfen Ventures, Emerald Technology Ventures, Bits x Bites and the UK Science & Innovation Seed Fund also participated in this round.

The fresh capital will go towards field trials for Tropic's novel banana and coffee varieties, further commercialisation of its proprietary technology platform, and the development of high-impact traits in rice, adding this crop to its product portfolio.

Previous funding
Pontifax AgTech and Five Seasons Ventures led a $10m series-A funding round for UK-based biotechnology company Tropic Biosciences in June 2018.

The deal, which was Pontifax's first UK investment, also involved participation from Tekfen, Emerald, Bits X Bites, Midven-RSF, and two family offices.

Company
Tropic's crop products aim to promote cultivation efficiencies, consumer health, and sustainable environmental practice. Headquartered in Norwich and founded in 2016, Tropic uses gene editing to increase crop stability.

People
Pontifax AgTech – Ben Belldegrun (managing partner).
Tropic Biosciences – Gilad Gershon (CEO).

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