22 million euros secured to propel sustainable plant protein seed solutions.
Protealis, a leading Belgian innovator in seed solutions for sustainable plant proteins based in Ghent (Belgium), proudly announces the successful completion of its B-round funding, raising a substantial 22 million euros.
Existing investors overwhelmingly reconfirmed their support for the company’s mission in an oversubscribed funding round, defying today’s challenging investment climate. The investors come from the Netherlands (Innovation Industries and HFT), Singapore (Thia Ventures) and the United Kingdom (Estari).
The proceeds from the B-round funding will be instrumental in fuelling Protealis' continued commercial development and expansion in key European markets while growing its crop product portfolio and supporting technology platforms. These include high-tech innovations such as prediction of crop yield and quality, based on a combination of genetic fingerprinting and AI, to further accelerate the introduction of new and better protein crop varieties to the market. This capital round implies a significant milestone for the company to continue its mission to sustainably transform the agricultural landscape.
Protealis focuses on pioneering sustainable solutions for European farmers, addressing the growing demand for plant-based protein sources. The company's seed and seed breeding technology platforms not only enhance crop and protein level yields but also minimize the ecological impact of agriculture. By focusing on locally adapted legume crops that don’t require any additional mineral nitrogen fertilizers, Protealis aims to strengthen regional food systems and bring novel opportunities to farmers, while contributing to global sustainability goals.
In the past year, Protealis achieved significant milestones, including the successful launch of two proprietary soy seed varieties for colder European climates. The company also established a new speed breeding facility, now operational for over a year, to shorten the traditional breeding cycle by several years, and implemented a genomic mating platform to predict plant traits and enhance disease resistance when introducing new plant protein varieties.
David Buckeridge, Chairman of the Board of Directors of Protealis, commented: "Successfully securing 22 million euros from our investors in today's challenging investment market shows that the rationale for Protealis and its mission for sustainable and high performance legume crops as an essential part of our future agriculture, is even bigger today than at our foundation. Looking at the rapid evolution of trends such as Regenerative Agriculture, there is no doubt that these systems will require significantly larger areas of legumes to be grown in Europe. This demands we breed for much higher field performance than is available for farmers today. Protealis is leading the industry in this area.”
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