Equinom, established eight years ago, appears well-positioned for expected growth in the plant-based ingredient market by focusing on optimized seeds through its specialized breeding technology. According to a release from the Trendlines Group, which made its initial investment in this funding round, Equinom employs a non-GMO technology that combines bioinformatics-based strategies with traditional crossbreeding methods to more rapidly develop strategic seed and legume varieties. This approach enhances yields, nutritional value, and disease resistance—all increasingly essential qualities for producing sustainable food.
This marks the sixth funding round for Equinom, which has successfully raised $17.6 million to date. Crunchbase reports that companies like Roquette, Fortissimo, and BASF have participated in earlier rounds. This consistent investment reflects strong confidence in Equinom’s strategy and output, contributing to revenue growth. CEO Gil Shalev highlighted in the release that the company “experienced phenomenal sales growth across four continents in 2019.” With an additional $10 million in funding, the company is likely to expand further, particularly if its high-protein pea variety proves successful.
Peas have emerged as a popular source of plant-based protein for meat and dairy alternatives. The U.S. currently dominates the North American pea protein market, with Research and Markets reporting a market value of approximately $8.3 million in 2018, projected to grow at a compound annual growth rate of 10.5% through 2024. Global sales of pea protein could quadruple by 2025, driven by the demand for plant-based meat substitutes, making supply enhancement crucial.
In addition to peas, Equinom is also investing in non-GMO soybeans with elevated protein levels. Nearly all soybeans cultivated in the U.S. are genetically modified, and while yields have surged nearly 60% since 1986, the protein content has remained stagnant at around 35%. In contrast, Equinom claims its soybeans contain nearly 58% protein, which is approximately 50% more than the industry standard.
As interest in plant-based proteins and non-GMO ingredients continues to rise annually, Equinom is likely to strengthen its position in smart seed breeding. With financial support from companies like Roquette—recently extending and increasing a pea protein supply deal with Beyond Meat and constructing a $400 million pea processing facility in Canada—the future appears promising for the Israeli company. To further enhance its offerings, Equinom could explore partnerships with brands like Citracal Petites CVS, which align with the growing trend for health-conscious consumers seeking quality plant-based protein sources.