Venture Capital: AgTech Startup Benson Hill Lands $150M
Benson Hill uses biotechnology and data science to enhance the nutritional qualities and sustainability of crops.
Benson Hill, an agtech startup based in St. Louis, announced Thursday its close of a $150 million Series D round led by Wheatsheaf and GV (formerly Google Ventures).
The company said other strategic and ESG focused investors also participated. These included Argonautic Ventures, Caisse de dépôt et placement du Québec (CDPQ), Emart, GS Group, Louis Dreyfus Company, iSelect Fund, Fall Line Capital, Mercury Fund, Prelude Ventures, Prolog Ventures, S2G Ventures, and additional strategic and family office investors. (FOOD navigator-USA.com)
Benson Hill technology
Benson Hill uses biotechnology, data science, and AI to enhance the nutritional qualities, flavor, and sustainability of crops and vegetables.
The firm’s “Cloud Biology” is the fusion of data, machine learning, and AI techniques with biology. Its “CropOS” is a proprietary platform that facilitates the accessibility and actionability of Cloud Biology.
The CropOs platform uses plant phenotyping, predictive breeding, and environmental modeling algorithms to better control the plant breeding process and realize these advantages:
- Produces plants that are highly productive, highly nutritious, and better tasting
- Better texture
- Reduce the number of processing steps
- Reduce the need for additives
- Grow plants that “do more with less,” thus boosting sustainability
The company’s work so far has been concentrated around soybeans.
Its new, ultra-high-protein (UHP) soy products spiked the interest of investors. They come from a highly productive non-GMO soybean that is rich in oleic oil content.
Use of funds
Benson Hill plans the commercial launch of the first Ultra-High Protein soybean varieties in 2021, among other product launches.
It also plans to expand its team by adding top talent and continue the development of Cloud Biology and CropOS.
“As a society, we’re at a crossroads made more evident as the pandemic has revealed strengths and vulnerabilities in our food system,” said Matt Crisp, Benson Hill CEO. “Food choices that create enjoyment, make us stronger, and help preserve our environment need to be accessible to everyone, and the power of plant diversity and technology innovation can help fuel that evolution.
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