Kaiima closes financing round of more than $65 million
Kaiima Closes Financing Round of More Than
Sep 3, 2013
Moshav Sharona, Israel
Kaiima Bio-Agritech Ltd., an innovative Israel-based seed-and-breeding technology company, announced today it has raised more than US$65 million in equity from three new investors as well as some current ones. The three new investors are: Horizons Ventures, which manages the private investments of Mr Li Ka-shing in internet and technology globally; the International Financial Corporation (IFC), a member of the World Bank Group and Infinity Group, the leading cross-border, China-focused private equity fund and innovation platform.
Existing investors include: DFJ, DFJ-Tamir Fishman, Mitsui, KPCB, Oberlee and Musea Ventures.
Kaiima’s proprietary Enhanced Ploidy technology (EP™) multiplies the plant’s genome without compromising its integrity. This non-GMO technology is implemented within the genome of crops that are vital to global food security as well as specific energy crops, to significantly boost productivity and improve land and water-use efficiencies.
“We are pleased that Horizons, the IFC, and Infinity Group have chosen to join our investor family as they recognize the value that Kaiima’s technology can bring to the world,” said Jeffrey Beard, chairman of Kaiima. “Rather than protect against yield loss, as many GM technologies are designed to do, Kaiima’s non-GMO technology is the first since hybridization that actually boosts yield.”
“By 2050, farmers will be tasked to produce 70% more food than they do today to sustain the growing world population,” said Dr. Doron Gal, chief executive officer of Kaiima. “This is a daunting challenge that modern agricultural technology must rise up to meet. The strategic alliance we have formed with our new investors fuels our rapid advances in yield enhancement technology, and positions Kaiima to become an outstanding participant in the global fight against hunger.”
“The fastest growth in demand for food and subsequently the greatest opportunity for crop yield enhancements exists in the emerging markets,” said Ruzgar Barisik, investment officer at IFC. “Technology innovation is creating the means for enhancing food production to meet the increasing demand for food while limiting the impact on the environment, a critical objective during times of climate change.”
”Addressing the mounting threat to global food security is a key challenge for our times,” said Jason Wong, managing director at Horizons Ventures. “Kaiima’s unique technology can help by increasing agricultural productivity at the fundamental seed level.”
“Infinity’s investment in Kaiima is at the heart of its strategy to invest in world-leading Israeli technology companies with high impact potential in the Chinese market,” said Mark Chess, a managing director at Infinity Group. “We are convinced that Kaiima’s technology is a game changer for the agricultural industry. With China’s increasing urbanization and growing middle class, the requirement for a significantly greater food supply is a critical imperative. Kaiima’s ability to increase yield and food production for major crops such as wheat, corn and rice in China provides a tremendous opportunity. Infinity is honored to collaborate with its new co-investors IFC and Horizons Ventures to assist Kaiima in its pursuit of global opportunities.”