Queensland crop breeding spinout Nexgen Plants has been backed by multi-university venture fund Uniseed, Business Development Fund and Yuuwa Capital.
Nexgen Plants, an Australia-based crop breeding spinout from University of Queensland, has received A$3m ($2.2m) in a round backed by multi-university venturing fund Uniseed.
Queensland government-run Business Development Fund led the round with a $1.1m contribution. Uniseed provided Nexgen with $367,000, while venture capital firm Yuuwa Capital supplied the remaining $735,000.
Founded in 2013, Nexgen Plants is developing a range of technologies for breeding disease and virus-resistant plants. Its approach identifies small plant virus molecules involved in modulating the crop’s defence response to infections.
Nexgen Plants’ lead breeding platform, INTtrait, can quickly generate disease-resistant plant traits for crops used for food, fibre, energy and ornamental purposes. A second platform aims to respond to new threats as they arise in crops including tomatoes, peppers and potatoes.
Nexgen is based on research led by Peer Schenk, a professor in Queensland’s School of Agriculture and Food Sciences. The spinout was established by Queensland’s commercialisation…
