Read the full story at Food Dive.
Agricultural biotech firm Tropic Biosciences raised $35 million to develop high-performing tropical crops. Sustainability investor Blue Horizon led the funding round. It was joined by DisruptAD, Skyviews Life Science, Bloom8, Tekfen Ventures and Sucden Ventures.
U.K.-based Tropic uses gene-editing techniques to create banana, coffee and rice cultivars that can withstand climate-driven challenges — a market it estimated is worth a combined $400 billion. The company plans to use the funding to expand into new tropical crops.
The biotech company’s work is one example of how gene editing can increase the yields of valuable crops and protect them against the stressors of climate change at a time of global shortages for many food commodities.