Horizons, Infinity, IFC invest $65m in Israeli bio-agritech firm Kaiima
Kaiima Bio-Agritech, an Israel-based seed and breeding technology firm, has raised over $65 million from three new investors including Hong Kong billionaire Li Ka-Shing’s Horizons Ventures, International Financial Corporation (IFC), and Infinity Group. Existing backers DFJ, DFJ-Tamir Fishman, Mitsui, KPCB, Oberlee and Musea Ventures also joined the round.
Kaiima's proprietary 'Enhanced Ploidy' technology multiplies the plant's genome and has been successfully demonstrated Kaiima in several crops. It will also boost overall productivity as well as increase efficient usage of land and water resources for farming and planting.
The company is also expected to expand its footprint to China, according to a statement.
"Infinity's investment in Kaiima is at the heart of its strategy to invest in world-leading Israeli technology companies with high impact potential in the Chinese market," said Mark Chess, managing director at Infinity Group. "With China's increasing urbanization and growing middle class, the requirement for a significantly greater food supply is a critical imperative. Kaiima's ability to increase yield and food production for major crops such as wheat, corn and rice in China provides a tremendous opportunity."
China-focused Infinity Group currently manages over $1 billion and 100 portfolio companies, through dollar-denominated funds as well as 17 renminbi-denominated funds throughout China.
Hong Kong-based Horizons Ventures has invested in internet and technology companies such as Skype, Facebook, Spotify, Siri, Waze, UMPay and SecondMarket.
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