A consortium of investors injected EUR21m into potato breeding company Solynta to accelerate growth, broaden product development and scale up the commercial organization, after the company closed its Series C funding round.

Solynta will use the proceeds of this financing round also to broaden product development, to cater to more market segments and to scale-up the commercial organization in order to address the challenges within the multi-billion dollar potato supply chain, according to Innovation Industries. “With this funding round Solynta will be able to leverage its pasts successes and enhance its focus on down-stream activities. This will allow Solynta to aggressively speed up its product pipeline as well as its market facing activities” said Hein Kruyt, Solynta’s CEO.

As Potato Business already reported, Solynta has developed a novel technique for hybrid potatoes. Instead of the traditional seed potatoes, the company is working on true potato seed (TPS). The new varieties are free from virus disease because any infections from the seed potatoes are not carried over from the old to the new growing year. With the new technology, new varieties can be developed quicker and are in a better position to respond to specific market demands.

In addition, TPS also offers logistical advantages. Approximately 25 grams of seed is equivalent to 2,500 kilos of seed potatoes.

Solynta representatives said this funding will enable them to aggressively accelerate their product pipeline and market-oriented activities.