SAN DIEGO, Sept. 10, 2019 /PRNewswire/ -- ZeaKal, a plant
traits innovator focused on improving crop efficiency, is
aggressively expanding to meet the global demand for more
sustainable agriculture. Building on recent collaborations with
Canopy Rivers Inc. (TSXV: RIV, OTC: CNPOF) and Corteva Agriscience
(NYSE:CTVA), the company today announced the close of its Series C
financing round and the addition of Paul
Schickler, former president of DuPont Pioneer, to its
leadership team.
Totaling $15 million, the
oversubscribed Series C includes the strategic investment from
Canopy Rivers announced earlier this year. Existing investors
including Finistere Ventures and Middleland Capital participated in
the round, and Finistere tapped its extensive industry network to
find the ideal fit for ZeaKal's strategic needs.
"Agriculture is innovating to meet the changing food and
nutritional demands for the next 30 years. Taking full advantage of
the miracle of photosynthesis can help meet this demand in a
sustainable fashion, and I am excited to join the ZeaKal team at
such a pivotal time for the industry and the company," said
Schickler. "I have focused my full attention on areas that address
productivity, value and sustainability. ZeaKal's ability to improve
crop yield and composition with its PhotoSeed™ technology fits
perfectly with that focus."
Before joining ZeaKal, Schickler served in various leadership
roles during a four-decade tenure at DuPont Pioneer (now Corteva
Agriscience). Dedicated to advancing agriculture production and
lauded for his focus on innovation, farm profitability and
sustainability, Schickler built a strong leadership team and
cultivated a deep network of customer and partnership relationships
that fueled Pioneer's substantial growth. Schickler will take an
active role in driving strategy and partnership opportunities for
ZeaKal.
"Having one of the most influential and accomplished executives
in agriculture join ZeaKal's leadership team is a significant
milestone for the company. Paul will be a transformative force in
expanding our global footprint, building new partnerships and
crystalizing our growth strategy as a leading seeds and traits
innovator," noted ZeaKal Founder and CEO Han Chen. "We are extremely grateful that
Finistere Ventures, our long-term investor and supporter was able
to bring us together."
ZeaKal's PhotoSeed™ technology increases a plant's
photosynthetic capacity so it can harvest more sunlight, sequester
more carbon dioxide, produce higher yields and ultimately deliver
better nutrition. With multi-year field trials across a range of
crops already demonstrating its success, ZeaKal plans to use the
funding to rapidly expand its commercial focus so producers,
farmers and consumers alike can benefit from a more sustainable ag
ecosystem.
"We've spent a lot of time examining bottlenecks to plant
growth, and ZeaKal's technology relieves a major one: carbon
assimilation inefficiency," added Spencer
Maughan, co-founder and partner, Finistere Ventures.
"Partnering with ZeaKal since its inception as its lead investor
and working closely with Paul
Schickler over the years, we look forward to helping
navigate the next phase of ZeaKal's growth as it uses the latest
funding to roll out its technology across multiple crops."
About ZeaKal
ZeaKal is a plant science company
developed from the incubation pipeline of Kapyon Ventures in
partnership with AgResearch Ltd. The company is focused on
developing, PhotoSeed™, a next-generation trait technology that has
been proven to increase the photosynthetic capacity and yield of
several major crops. Visit www.zeakal.com.
About Finistere Ventures
Finistere Ventures is a
leading global agricultural technology and life sciences venture
capital investor with offices in Palo
Alto, San Diego,
Ireland and Israel. Its team has developed and invested in
some of the most successful AgTech companies of the last 20
years—building and backing companies worth more than $5 billion. Visit Finistere.com.
Media Contact:
Erica
Camilo
Connexa Communications for ZeaKal
C: 610.639.5644
Erica@connexacommunications.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/zeakal-prepares-for-global-growth-as-ag-industry-luminary-joins-company-300914441.html
SOURCE ZeaKal