Rootility, a developer of innovative root-focused plant breeding methods that increase crop yields and overall agronomic performance, announced today that it has secured US$10 million in series C financing. The new investment round will enable the company to expand its sales in new territories and further develop new generations of its rootstock breeding solutions for a wider variety of crops.
Rootility’s methods are GMO-free, based on sophisticated simulation and empirical work in combination with well-known breeding techniques, which enable the Company to cross and screen crops at a large scale and high speeds. Rootility focuses on roots as drivers of tolerance to environmental changes and performance improvements.
The Company cooperates closely with leading seed companies and food processors. The large scale deployment of processing tomato grafted plants in California is an excellent showcase of how Rootility’s approach and technology can change current practices, increase yields, substantially improve tolerances to heat, cold and soil born diseases like fusarium, thereby building an exciting growth market for the company.
The Series C financing was led by ADM Capital’s Cibus Fund are joined by existing investors GreenSoil Investments, the leading Israeli agro & food technologies fund, and Middleland Capital, a prominent North American agtech venture capital firm.
Commenting, Alastair Cooper, Senior Investment Director at the Cibus Fund: “We have been extremely impressed by the products and the team at Rootility. The company has developed and introduced revolutionary rootstocks to the market which dramatically increase yield, while preserving crop quality. Rootility’s unique approach which harnesses innovative technologies is a natural fit for the Cibus Fund which focusses on investment opportunities in sustainable food processing and production companies spanning growth through mid-market businesses. We are excited to help Rootility continue to evolve current practices, funding its next stage of development and building an exciting market for the company.”
Alastair Cooper will join the board of directors of Rootility. Recently, Andre Goig, an eminent seed industry veteran and previous head of Syngenta’s global vegetable seeds business, also joined the board of the Company.
Commenting, Rafael Meissner, Founder and Chief Executive Officer of Rootility said: “We are very happy to receive this investment led by the Cibus Fund and are excited by the combination of valuable strategic relationships and operational expertise ADM Capital brings. Over the last several years we have been able to revolutionize rootstock breeding in several crops including industrial and open field fresh tomatoes. With this additional investment we will be able to scale our operations and enter new territories where ADM Capital has a strong foothold, including several markets in Asia.”
Rootility has successfully applied its technology in a number of crops in different regions globally. Large scale field trials have been conducted over a period of 5 years and commercial sales have already been initiated.