US-based bioprocessing technology developer GreenLight Biosciences received $50m from investors including food producer Continental Grain Company on Tuesday to close the first tranche of its latest funding round.
Life sciences real estate investment trust Alexandria Real Estate Equities took part in the round, through its Alexandria Venture Investments unit. S2G Ventures, Baird Capital, Blue I/O and Tao Capital Partners also invested, with what and the company described as the majority of its existing backers.
Founded in 2008, GreenLight has created a cell-free production platform to produce RNA products for use in crop management and plant protection in the agricultural industry. It is also looking to use its RNA sequence technology to develop vaccines and therapeutics for humans and animals.
Andrey Zarur, co-founder and chief executive of GreenLight, said: “Our mission is to accelerate the creation and development of RNA solutions that perform at a level that is equal to or exceeds current plant and life science solutions – naturally.
“We are looking forward to further strengthening our company and driving additional innovations in our portfolio that will make a difference to life on our planet.”
GreenLight raised $7m from two undisclosed investors in 2013 before adding $20m in a 2015 round led by MLS Capital, an investment fund co-sponsored by the state-run Malaysian Technology Development Corporation.
Fall Line Capital subsequently led an $18m series D round for GreenLight in 2017 that included agribusiness Syngenta’s investment arm, Syngenta Ventures, as well as S2G Ventures, Lewis and Clark Ventures, Macro Capital Investments and Kodiak Venture Partners.