GeneNeer Secures $1 Million in Seed Funding to Revolutionize Crop Seed Innovation
GeneNeer Ltd. is pleased to announce it has successfully closed a US$1 million seed round to support the acceleration of its technology for rapid crop seed innovation. The company’s breakthrough method leverages its proprietary Superlines and tissue-specific silencing capabilities to improve the current precision, speed, and safety of advanced breeding technologies. In a league of its own, GeneNeer is positioned to democratize crop seed innovation, fostering more rapid, localized solutions to impacts of climate change, and to accelerate the development of healthier, more functional natural food sources.
The funding round was led by Tall Grass Ventures, an early-stage Agrifood Tech venture firm based in Canada, and 2b AHEAD Ventures, a repeat investor from Germany. The funds will be used to expand the company’s research and development into its methods for enhancing gene editing and gene discovery. While the company’s first focus is on the potato market, further development in other key crops is being actively pursued through strategic partnerships.
Chris Edwards, Managing Partner at Tall Grass Ventures said, “We believe GeneNeer is at the forefront of gene-editing in crop development through their novel and proprietary Superline technology. With this technology, they have developed a multi-faceted platform, which we believe mitigates many of the business risks inherent in biotechnology and deep science-based startups. This approach not only enhances stability, but also aligns with the nimbleness and adaptability required to lead an emerging field.”
“GeneNeer’s commitment to success is further reinforced by the exceptional quality of their team. With a deep mix of technical competency, skill and business acumen, the team is well positioned to successfully execute against their vision and have a significant role in increasing the resilience and adaptability of global agriculture,” added Edwards.
The investment is the climax of a successful year, marked by multiple successful proof of concept trials, a paid collaboration with a Tier-1 company; participation in the prestigious StartLife program for promising agritech start-ups; the registration of a second patent application; and significant strides in its research and development activities. As a result, the company doubled its valuation in 2023.
Kinneret Shefer PhD, CEO and Co-founder of GeneNeer said, “The addition of Tall Grass Ventures and return investment of 2b AHEAD Ventures provide GeneNeer with outstanding support from seasoned, savvy and visionary investors and mentors. Their involvement will be instrumental in GeneNeer’s ability to achieve its ambitious business plans.”
Sven Gabor Janszky, CEO of 2b AHEAD Ventures and Chairman of Europe’s largest Future Science Institute 2b AHEAD said, “We are proud to continuously support GeneNeer’s progress to solve one of the world’s biggest challenges: to provide food security for up to 11 billion people on Earth in times of global warming. Even for us, with a portfolio of 30+ deeptech investments worldwide – from Nuclear Fusion to Quantum Computing – GeneNeer is outstanding in its product vision and the excellence of its technological platform.”
About Tall Grass Ventures:
Tall Grass Ventures is a leading investment firm based in Calgary, Alberta focused on the agriculture and food sector. The TGV team leverages its deep industry knowledge, connectivity, experience and passion to invest in early-stage ventures and support the transformational entrepreneurs who are changing the world’s relationship with its food, fuels and fibers. www.tallgrass.vc
About 2b AHEAD Ventures
2b AHEAD VENTURES, based in Lipzig, Germany, is a private equity firm and the company builder of 2b AHEAD Think Tank, Europe’s largest future institute. The company identifies disruptive early-stage technologies, builds networks with their developers and provides advantage to startups with the potential to profoundly change industries. www.2bahead-ventures.com
GeneNeer is engaged in the enhancement of crops through the development of innovative methods for expedited precisely controlled gene editing and rapid gene discovery, using its patent-protected Superlines and tissue-specific silencing. The company aims to use its capabilities to support global food security and nutrition. GeneNeer is a member of the prestigious StartLife program for promising startups. www.geneneer.com