Tropic, a UK-based agricultural biotechnology company focused on improving tropical crops through gene editing, has raised €91.3 million in an oversubscribed Series C funding round.
The round was co-led by Forbion through its Bioeconomy Fund and Corteva via its Corteva Catalyst platform. Additional investors include Just Climate, IQ Capital, ABN Amro, and Invest International, alongside existing backers Temasek, Five Seasons Ventures, Sucden Ventures, Genoa Ventures, and Polaris Partners.
The new capital will support the global expansion of the company’s banana and rice programs and accelerate the development of new climate-resilient crops.
Developing Improved Tropical Crop Varieties
Founded in 2016 by Eyal Maori and Gilad Gershon, the company develops improved seed varieties for tropical crops. The company focuses on traits such as disease resistance, higher yields, and improved sustainability in agricultural production.
Its current crop portfolio centers on bananas and rice, two staples that are particularly vulnerable to climate pressures and plant diseases.
To accelerate crop development, Tropic uses a proprietary technology platform known as GEiGS along with gene-editing techniques including CRISPR. These technologies allow the company to modify or regulate genes involved in plant growth and disease resistance.
The platform can also target genes from pathogens or pests to strengthen a plant’s natural defenses.
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Tackling Major Threats To Banana Production
One of the company’s primary research priorities is improving resistance to diseases affecting global banana production.
Among the most significant threats is Panama Disease, a fungal infection that has spread across major banana-growing regions and can destroy entire plantations. The firm is developing banana varieties designed to withstand this disease and other threats such as Black Sigatoka.
The company recently reported progress in its disease resistance programs, including the establishment of plantations designed to support future commercial deployment of resistant banana plants.
New Banana Varieties Enter The Market
Tropic also introduced new commercial banana varieties in recent years, marking the first major innovations in the category in decades.
One of these varieties was designed to prevent browning after the fruit is cut, while another extends the time bananas remain fresh before ripening. Longer shelf life can improve export logistics and reduce food waste during transport.
These developments allow producers to access new shipping routes and improve yields while reducing losses in the supply chain.
Expanding Production And Global Partnerships
With the new funding, Tropic plans to expand large-scale plant production and strengthen supply chains for global distribution.
The company will also expand its rice research program and explore additional crop opportunities that could benefit from gene-editing technologies.
Through partnerships with growers, exporters, and agricultural companies, Tropic aims to bring climate-resilient crop varieties to international markets and support food production systems facing increasing environmental pressures.
About Tropic
Tropic is an agricultural biotechnology company developing improved tropical crop varieties using gene-editing technologies. The company focuses on bananas, rice, and other crops, aiming to increase resilience, productivity, and sustainability in global agriculture.
