Pairwise, a Durham, NC-based technology company which specializes in gene editing to improve plant breeding in specialty and commodity crops, raised $40M in Series C funding.
The round, which brought the total amount to $155M, was led by Deerfield Management with participation from Aliment Capital and Leaps by Bayer, Corteva, Inc. (NYSE: CTVA).
The company intends to use the funds to boost agricultural R&D and sustainable food production innovations.
Co-founded by CEO Dr. Tom Adams and Dr. Haven Baker, with scientific co-founders J. Keith Joung, David Liu, and Feng Zhang, Pairwise brings together leaders in agriculture and tech to harness transformative genomic technologies to create new varieties of fruits, vegetables, and large-acre crops, and to partner with organizations that seek to deliver innovation across the plant-based economy. To this end, the company leverages the Fulcrum™ Platform, a complete suite of novel technologies and proprietary tools for applying CRISPR innovations to create commercially-viable products with differentiated plant genetics. Its new seedless blackberry variety, announced in June, will deliver an improved eating experience for consumers and, in concert with compact architecture and thornless traits, bring added benefits to farm workers, growers, and the environment as well.
FinSMEs
17/09/2024