ZeaKal picks up $10M from Canopy Rivers to bring PhotoSeed to Cannabis

0
330

In California, Canopy Rivers announced an investment and strategic collaboration with ZeaKal, a California-based plant science innovator with proprietary technologies that sustainably increase photosynthesis, improve plant yield and enhance nutritional profiles for a variety of agricultural crops. The investment from Canopy Rivers marks another significant corporate milestone this calendar year for ZeaKal, following the February announcement of its R&D collaboration  with Corteva Agriscience.

Based on the investment, ZeaKal’s valuation reached $114 million

ZeaKal’s proprietary technology, PhotoSeed, increases a plant’s intrinsic photosynthetic capacity, meaning that PhotoSeed plants can convert more sunlight and carbon dioxide into energy for growth. This results in substantial improvement in seed and grain yield, as well as improved macronutrient profiles that drive an increase in both oil and protein content. For farmers, this means better productivity and profit margins; for consumers, this means higher nutritional profiles and an environmentally friendly way to meet growing global demand.  With multi-year field trials across diverse plant species in the United States, Canada and New Zealand, the initial commercial focus has been on major row crops. Following Canopy Rivers’ investment, ZeaKal intends to expand its program to include cannabis and hemp.