Tropic

Tropic, a Norwich-based agtech company focused on gene-edited tropical crops, has successfully closed a Series C funding round, securing £79.2 million ($105 million) to support the global commercial scale-up of its crop portfolios.

Summary of transaction details:

• Value: £79.2 million
• Sector: AgTech, Biotechnology, Agriculture
• Advisor: Not disclosed
• Key Entities: Tropic (Target), Forbion and Corteva (Co-lead Investors), Just Climate, IQ Capital, ABN Amro, Invest International, Temasek, Five Seasons Ventures, Sucden Ventures, Genoa Ventures, and Polaris Partners (Additional Investors)
• Location: Norwich, UK (Target base)

Note: This substantial capital injection will allow Tropic to expand its large-scale plant production capabilities, reinforce global supply chains, and foster commercial partnerships in key export markets. The funding highlights the strategic importance of gene-edited crops in enhancing food security and sustainability by developing disease-resistant and higher-yielding varieties of essential tropical crops like bananas and rice.