By Autumn Demberger, Global AgInvesting Media
It appears the appetite for gene-edited crops is accelerating, as UK-based Tropic announced the closing of a $105 million oversubscribed Series C round in early March.
The company said the raised capital will fund the commercial expansion of its banana and rice product lines, while advancing a broader pipeline of climate-resistant varieties.
Tropic built its company on the desire to make tropical agriculture more productive and sustainable by integrating today’s cutting-edge genetic innovations for growers’ futures. For this particular round, the company is pioneering the deployment of CRISPR-like gene editing tools for tropical crops, like bananas and rice.
Who’s Who in Investing
This round was co-led by Forbion’s Bioeconomy Fund and Corteva, via its Corteva Catalyst investment platform. Additional backing came from:
- Just Climate
- IQ Capital
- ABN Amro
- Invest International
- Temasek
- Five Seasons Ventures
- Sucden Ventures
- Genoa Ventures
- Polaris Partners
Looking toward the next phase of growth, Tropic will be joined by board members from Forbion, Corteva and Just Climate for support.
Support follows a milestone year for the company, with its non-browning banana making TIME’s 2025 Best Inventions list in the food and drink category and its extended shelf-life banana, which adds an additional 12 days of green life for the fruit, hitting the shelves.
“Bananas are the most eaten fruit around the world, and a globally important source of income for millions of growers and farmers. However, the Cavendish variety which accounts for over 90% of the export market is sterile and can’t be hybridised or traditionally bred — making it particularly vulnerable to diseases and weather extremes, both exacerbated by climate change. Tropic’s pioneering research and developments in bananas will bring further varieties to extend the fruits’ green life, and provide natural resistance to Panama disease (TR4) and Black Sigatoka disease. Our technology is ensuring that we can continue to enjoy the world’s favourite fruit for generations to come, via safe, non-GMO technologies,” Tropic said of its 2025 successes.
Demand for this banana is already exceeding supply, according to the company.
Shifts in Regulation for Gene-Editing Crop Deployment
With the ever-growing threat of climate change looming, many in the ag space are seeking ways to develop climate-resistant crops. To keep up with the need to combat volatile growing conditions, global gene-editing regulation seems to be shifting from strict, process-based GMO oversight toward streamlined, product-based frameworks that treat many edited organisms like conventional breeding.
Essentially, this means crops are being developed to be more resilient to climate shocks or to possess enhanced nutrition, with the goal of reaching farmers and consumers much faster and directly impacting the speed at which the food system can adapt to environmental pressures.
Tropic’s platform, specifically, builds on a suite of advanced genetic tools, from its CRISPR-based editing to its proprietary GEiGS technology, which enables the team to make precise modifications without introducing foreign DNA.
“Tropic is an exemplary case of how advanced biotechnology can be applied with precision to challenges in planetary health, starting with banana and rice. Escalating disease pressure, limited innovation and a lack of cost-effective solutions are driving a growing environmental and supply chain risk in our food systems,” said Joy Faucher, General Partner at Forbion, one of this round’s co-leads, for the Tropica press release.
Tom Greene, Senior Director at Corteva, the other co-lead, concurred, stating, “Tropic’s non-browning banana varieties are a promising example of how the agriculture industry is leveraging innovation to deliver new and improved choices for farmers and consumers worldwide. We’re thrilled to support Tropic as we continue to advance our global portfolio of next-generation solutions to help farmers produce more food and feed, sustainably.”
Why It Matters
Bananas are highly vulnerable to climate change, with some studies suggesting that up to 60% of current suitable banana-growing areas could be lost in the next century. Tropic’s advancements show that there is promise in the gene editing of crops that might once have been historically difficult, or even impossible, to breed conventionally.
It also shows a growing investment in this type of technology. The ability to develop improved crop varieties is increasingly becoming critical for global food system resilience, driving more capital toward the agri-biotech companies that are able to affect high-value crops most susceptible to climate change.
“This funding is a powerful endorsement of our team’s ability to bring breakthrough products to the hands of growers, exporters and consumers around the world. We are entering a new era, one where gene‑edited crops will significantly enhance food security and sustainability,” said Gilad Gershon, CEO of Tropic.
“We are excited to be partnering with our new investors as we progress our mission to build a world leading tropical seeds company.”
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