Agriculture tech company Sound Agriculture has secured $22 million in Series C funding to support its ‘next-generation’ on-demand breeding platform.
According to the California-based company, its breeding platform rapidly evolves traits to improve the nutrition, taste and sustainability of food without gene modification.
Sound Agriculture develops solutions that help growers produce crops with fewer resources, while giving consumers access to better food.
With its funding, the company intends to accelerate the development of its novel bio-inspire plant traits and chemistries, as well as new business development efforts across food and agriculture.
The company’s first commercial product, Source, was launched last year to unlock nitrogen and phosphorus in the soil, supporting plant and soil health and on-farm efficiency.
By harnessing existing nutrients in the field, Source provides an average corn yield increase of 8-10 bushels per acre without requiring more fertiliser.
The round was led by S2G Ventures, which has invested in Beyond Meat and recently led a $14m seed round in Israeli cultured meat start-up Future Meat Technologies.
Existing investors, Cultivian Sandbox, Fall Line Capital, Cavallo Ventures and Syngenta Ventures, also participated in the round.
“Developing a more diverse set of crop solutions is essential to the success of growers, consumers and the wellbeing of the planet,” said Adam Litle, CEO of Sound Agriculture.
He added: “We are thrilled to have S2G Ventures and Cheryl Martin join the Sound team. They provide a wealth of experience, network and resources as Sound expands its consumer side of the business that focuses on healthier, tastier and more differentiated food.”
Sanjeev Krishnan, managing director and CIO of S2G Ventures, has now joined Sound Agriculture’s board of directors.
“Sound Agriculture is launching new discoveries that are in line with our goals for a healthier, more resilient and more sustainable food system. By combining our understanding of evolving consumer food preferences with their novel technology platform, we will be able to provide new answers to the challenges facing the entire food system,” said Krishnan.
© FoodBev Media Ltd 2020
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