Morocco’s UM6P Ventures, a venture capital firm affiliated with Mohammed VI Polytechnic University, has announced its investment in Climate Crop, an Israeli startup specialized in innovative technology in plant genomics.
Given rising concerns surrounding global warming and the current climate crisis, the goal of this investment is to boost agricultural productivity and resilience in Africa and globally. It aims to do so through funding the maturation and specific application of the gene-editing technology to potatoes and tomatoes.
Venture Builder assistance
Aside from the financing, the firm will get Venture Builder assistance, which will allow it to access the scientific expertise and the research and development facilities of the Mohamed VI Polytechnic University (UM6P) ecosystem and its agro-bioscience partners.
“The extensive scientific support system available from UM6P Ventures, coupled with capital investment, will help Climate Crop maintain its foot hold in the gene editing food market and positively impact crop production and the world’s food supply,” said Yehuda Borenstein, CEO & founder of Climate Crop, quoted in the joint statement.
In addition, Climate Crop will have organic access to the wide ecosystem and partner Agtech platforms in Morocco and throughout the world. Climate Crop and UM6P Ventures will further collaborate to develop their footprint in the US market, beginning with a US subsidiary in North Carolina’s Research Triangle Park.
“We are actively seeking investments in startups that address an important topic such as climate change and its impact on the global food supply, security, and sustainability. UM6P Ventures’ network of scientific experts and our partners’ state of the art infrastructure will work hand in hand to accelerate the technology maturity of Climate Crop’s solution and its entrance into the commercial market,” stated Othman Chraibi, chief investment & operations officer at UM6P Ventures.
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