Proceeds from partial acquisition will be used to advance hybrid potato breeding platform.
DUTCH-based seed company Solynta has announced a major growth funding raise, including the acquisition by German holding company EW Group of a majority stake in the company.
The parties have agreed not to disclose the financial details of the acquisition but EW Group has acquired a majority stake in the company.
The proceeds from this funding round will be used to further advance Solynta’s hybrid potato breeding platform to increase breeding speed and variety development and scale the commercial adoption of its technology (from tuber use to use of true potato seeds) globally.
Chief Executive Officer of Solynta, Peter Poortinga, said: “We are thrilled to have the significant support of one of the leading investors in the breeding sector, the EW Group. Our innovative technology addresses critical agricultural challenges, offering a sustainable solution for potato growers worldwide. With this funding we will continue to accelerate the global adoption of Hybrid True Potato Seeds, improving food security and supporting sustainable farming practices worldwide.”
Hein Kruyt, Co-Founder and Chief Financial Officer of Solynta, added: “Solynta was founded to become a transformative agricultural technology company, playing a critical role in addressing global food security and sustainability challenges. We are excited to continue driving innovation across the potato value chain and to transform potato breeding on a global scale.”
