BusinessDisruptive Potato Breeder Solynta Secures Strong Backing

Disruptive Potato Breeder Solynta Secures Strong Backing

-

[deck]Twenty-five grams potato seeds instead of 2500 kilogram potato tubers as starting material, the Holy Grail in potato breeding, receives strong support as Solynta announced the completion of a €16 million series B financing round by new investors Fortissimo Capital and Innovation Industries as well as existing investors.[/deck]

Solynta will use this financing round to continue its potato breeding activities and to build a strong commercial organization that can address the billion dollar challenges within the potato supply chain.

Solynta is a leading potato breeding and biotechnology company headquartered in the Netherlands. Solynta has invented and established hybrid potato breeding based on pure inbred parent lines, a game changing (non-GMO) breeding technology platform. This enables a seed based supply chain which would allow 25 grams of seeds as starting material instead of 2500 kilogram of tubers. It also allows for the fast and predictable breeding for beneficial traits, such as for example disease resistances, and by this reducing the need for pesticide applications manifold. 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.

“We are thrilled to have attracted the backing and support of these top-notch investors and see their commitment to Solynta as a further validation of the potential of our hybrid potato breeding platform,” says Hein Kruyt, Solynta’s CEO. “The proceeds of this financing round combined with the expertise of Fortissimo Capital and Innovation Industries will enable us to drive and expand Solynta’s game changing approach in potato breeding. We look forward to working with them and use their expertise and guidance to unlock potatoes full potential.”

Wageningen University & Research is elated with the opportunity the financing round offers Solynta to scale up. Sebastiaan Berendse, corporate director value creation: “It shows university spin-offs and R&D collaboration with small- and medium-sized enterprises offer important routes to application and global impact of WUR knowledge. In order to enhance the innovation capacity of our domain, we will continue to expand our partnerships with investors, such as Innovation Industries, corporates and entrepreneurs.”

Trending This Week

Mark and John Phillips

How Mark Phillips Found His Way Back to Ag

0
Mark Phillips has been chosen as a Nuffield scholar this year but working in ag wasn’t always his plan. Growing up on the family potato...
Potato tuber with late blight

Blue Light Found to Reduce Potato Protection Against Late Blight

0
Researchers at the James Hutton Institute have discovered blue light reduces how potatoes can protect themselves against late blight, a Jan. 12 news release...
Pile of potatoes

Canadian Potato Holdings 20 Per cent Above Average

0
Canada has almost 80 million hundredweight (cwt) of potatoes in storage as of Jan. 1, a Jan. 17 report from the United Potato Growers...
CIPC fogging a potato shed

Let’s Get Political — It’s Time to Talk about Sustainability in Potato Storage Treatment

Let me just lay it out there — I’m frustrated. Much more importantly, farmers are frustrated too. Farmers are being pushed from all sides...
Potato plants growing in a field

Sustainability — We’re in This Together

0
Our potato industry has much to learn from the farmers it serves. To survive in potato production, growers constantly adapt and improve, try new...