Wednesday, February 17, 2016

ZeaKal Raises $5.3M, Acquires Algenetix

San Diego-based ZeaKal, a biotechnology startup which is looking to increase yields of plants by improving their ability to photosynthesize, has raised $5.3M in a Series B financing, the company said this morning. As part of the funding, ZeaKal said it has acquired industrial biotechnology developer Algenetix. The funding round was led by Finistere Ventures, and also included Middleland Capital and un-named family offices. Financial details of the Algenetix buy were not announced. ZeaKal said its technology helps plants harvest more sunlight, fix more carbon dioxide and with less water. The company is led by Han Chen. Algenetix was also based in San Diego, and also backed by Finistere Ventures. More information »