Benson Hill raises $150m to scale up crop breeding platform

US-based Benson Hill has secured $150m in Series D funding round to scale up its food innovation engine CropOS across multiple food and ingredients markets.

Wheatsheaf Group and GV (formerly Google Ventures) led the funding round.

Environmental, social and governance (ESG) focused investors across the food and agriculture value chain also participated in the funding round.

Benson Hill CEO Matt Crisp said: “As a society, we’re at a crossroads made more evident as the pandemic has revealed strengths and vulnerabilities in our food system.

“Food choices that create enjoyment, make us stronger, and help preserve our environment need to be accessible to everyone, and the power of plant diversity and technology innovation can help fuel that evolution.

“We’re grateful for the growing coalition of investors, stakeholders, farmers and partners who recognise the urgency and opportunity of this moment to think collaboratively and modernise food production.”

The company will also use the funds to increase its partner development efforts.

The fresh capital will also support the commercial launch of its first ultra-high protein soybean varieties in 2021, among other product launches.

The company claims that its soybean varieties offer premium attributes including better digestibility, heart-healthy omega fatty acids and higher protein.

Wheatsheaf Group executive director Stephan Dolezalek said: “As a firm, we are focused on investing in innovation that delivers the right calories and nourishment for a growing global population in a less commodity-driven food system.

“We feel the culture and partners propelling Benson Hill forward will have a significant impact on the health and sustainability challenges that burden our current food system in a way that benefits society and our environment.”

Last year, Benson Hill partnered with Brownseed Genetics for new corn hybrids with higher oil content and essential amino acids.