According to a press release, the company is using the new financing to establish a world-wide production, marketing and commercialization network to meet growing demand for its products and to expand its development pipeline to additional high-impact strategic crops.
Founded in 2006, Kaiima (formerly – Biofuel International) is led by a team of experts in the fields of advanced plant breeding and agro-biotechnology, agrotechnology, and energy. The company is using a proprietary non-transgenic technology platform that increases the yield potential in important crops such as wheat, rapeseed, and castor. The successful application of this technology can help mitigate the threatened shortage in basic food and energy.
Green Prophet's Karin Kloosterman interviewed a product manager at Kaiima who explained the company's technology and business plan.
At the time of Kaiima's Series A financing, Dr. Benny Zeevi, Managing General Partner at Tamir Fishman Ventures and a Board Member at Kaiima stated: “Kaiima represents for us the winning combination that we seek in Israeli high tech companies: a top tier group of founders, and a unique breakthrough technology. The company’s products are aimed at one of the most urgent major global needs and it has the potential to become a market leader.
Jennifer Fonstad, Managing Director at DFJ added that “Kaiima’s platform promises to deliver important solutions for the alternative energy market worldwide. We are excited to work with the team, the Board, and our partners at DFJ Tamir Fishman in building on this opportunity."
Dr. Doron Gal, Kaiima CEO and co-founder of Kaiima said: "We share a mutual vision with DFJ Tamir Fishman Ventures and with Draper Fisher Jurvetson, and a mutual excitement at the opportunity to provide solutions to some key challenges faced by contemporary society. We are proud to team with these two leading venture capital groups, and we believe that they will provide both the local support and the global leverage needed by Kaiima to fully realize its potential."