Nexgen reaps $2.2m

Aug 22, 2018 •

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…

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