BASF Venture Capital is investing in Israeli AgTech startup Equinom.
Equinoms computerized breeding technology provides improved seeds for the food industry. The existing investors of Equinom are Israeli private equity fund Fortissimo Capital and Roquette, a global leader in plant-based ingredients for food, nutrition, and health markets.
BASF investments in Equinom will help meet the growing demand for plant-based products used as ingredients, clean label packed goods, and healthier lifestyle cuisine. Equinoms bioinformatics technology will enhance seed breeding helping achieve new levels of efficiency.
The Equinoms breeding expertise is changing the market for plant-based food applications like Soybeans and peas, which are the best alternatives to meat. The company brings high-protein legumes, such as chickpeas, soybeans, peas, cowpeas, mung beans, and fava bean. Equinoms high-protein varieties deliver taste, texture, and other benefits.
We strategically crossbreed plants for targeted characteristics, often reintroducing important characteristics that have been inadvertently bred out of ordinary varieties to produce crops with highly desirable traits, explains Gil Shalev, CEO of Equinom. He adds: Our proprietary computer algorithm and big data meet crop yield, quality and trait objectives in a way that no other seed-breeding company has done before, which also cuts time to market by years.
Prominent recent investments by BASF are mentioned below:
- December 2019: BASF inaugurated the second phase of an antioxidant manufacturing plant, which produces Irgafos 168 and Irganox 1076 at its Caojing site in Shanghai, China. The new plant has an annual capacity of 42,000 tons & it mainly serves customers in China
- November 2019: BASF launched its smart Verbund project at Zhanjiang, in Guangdong province, China, and commenced building its primary plants. The plants will produce engineering plastics and thermoplastic polyurethane (TPU) to serve industries in southern China and other Asian countries.
- November 2019: BASF Venture Capital invests US$ 4 million in Brazilian fund AgVentures II. The fund is managed by SP Ventures based in São Paulo, and it focuses on startups from the Latin American agricultural and food (AgFood) sector
About BASF Venture Capital
BASF Venture Capital GmbH (BVC) was founded in 2001 to invest in new companies and funds. The company has offices in Europe, India, the U.S.A, Israel, China, and Brazil. The BVC focuses on investments in chemical products, and new materials, food, digital business, and services.
BASF, headquartered in Germany is one of the leading chemical manufacturers in the world. BASF comprises of subsidiaries and joint ventures in about 80 countries and operates six integrated production sites in Europe, the Americas, Asia, Australia, and Africa. The company employs approximately 122,000 employees worldwide. The companys portfolio is organized into six segments: Chemicals, Materials, Surface Technologies, Nutrition & Care, Industrial Solutions, and Agricultural Solutions.