With the company’s first focus on the potato market, GeneNeer Ltd. recently declared that it has completed a USD1m seed round to fund the development of its technology for quick innovation in crop seeds.

The company’s ground-breaking technique increases the accuracy, speed, and safety of current advanced breeding technologies by utilizing its patented Superlines and tissue-specific silencing capabilities. GeneNeer is in a unique position to democratize crop seed innovation, promote quicker, more localized responses to climate change effects, and hasten the creation of natural food sources that are more functional and healthy.

The funding round was led by Tall Grass Ventures, an early-stage Agrifood Tech venture firm based in Canada, and 2b AHEAD Ventures, a repeat investor from Germany. The funds will be used to expand the company’s research and development into its methods for enhancing gene editing and gene discovery.

“We believe GeneNeer is at the forefront of gene-editing in crop development through their novel and proprietary Superline technology. With this technology, they have developed a multi-faceted platform, which we believe mitigates many of the business risks inherent in biotechnology and deep science-based startups. This approach not only enhances stability but also aligns with the nimbleness and adaptability required to lead an emerging field. GeneNeer’s commitment to success is further reinforced by the exceptional quality of their team. With a deep mix of technical competency, skill, and business acumen, the team is well positioned to successfully execute against their vision and have a significant role in increasing the resilience and adaptability of global agriculture,” Chris Edwards, Managing Partner at Tall Grass Ventures, mentioned.

The investment represents the pinnacle of an accomplished year that included numerous successful proof of concept trials, a compensated partnership with a Tier-1 business, enrollment in the esteemed StartLife program for agritech start-ups with promise, filing a second patent application, and noteworthy advancements in R&D. Consequently, in 2023 the company’s valuation doubled.

“The addition of Tall Grass Ventures and return investment of 2b AHEAD Ventures provide GeneNeer with outstanding support from seasoned, savvy, and visionary investors and mentors. Their involvement will be instrumental in GeneNeer’s ability to achieve its ambitious business plans,” Kinneret Shefer PhD, CEO and Co-founder of GeneNeer, added.

GeneNeer is positioned to democratize crop seed innovation, fostering more rapid, localized solutions to impacts of climate change, and to accelerate the development of healthier, more functional natural food sources.

“We are proud to continuously support GeneNeer’s progress to solve one of the world’s biggest challenges: to provide food security for up to 11bn people on Earth in times of global warming. Even for us, with a portfolio of 30+ deep tech investments worldwide – from Nuclear Fusion to Quantum Computing – GeneNeer is outstanding in its product vision and the excellence of its technological platform,” Sven Gabor Janszky, CEO of 2b AHEAD Ventures and Chairman of Europe’s largest Future Science Institute 2b AHEAD, concluded.