The funds will be used to accelerate our growth, expand the company’s market share and create long-term collaborations.
Israel-based NRGene, an AI-based genomic company operating in the agricultural and livestock industry, announced that it has successfully completed its initial public offering on the Tel Aviv Stock Exchange (TASE). NRGene raised NIS 100 Million (US$30 Million), with a post-money valuation of circa NIS 370 Million (NIS 420 Million on a fully diluted basis). Leading institutional entities in the Israeli market have invested in the current IPO.
“We are proud to join the TASE and thank the investors for their trust and support that led to a successful IPO. Going public is a significant milestone in the company’s plan for growth. The funds will be used to accelerate our growth, expand the company’s market share and create long-term collaborations. NRGene is operating in the rapidly growing plant and animal genomics market, which is expected to reach US$ 6.4 Billion by 2025”, said Asaf Levi, NRGene’s Chairman.
“NRGene’s ground-breaking technology has been already utilized in more than 250 projects globally, with leading agricultural companies such as Bayer and Syngenta. The company currently plans to expand its global activities and become an integral part of the optimization processes in agriculture and the food industry. We estimate that in the near future, NRGene will become a key player in this highly important and growing field”, said Dr. Gil Ronen, NRGene’s CEO and co-founder.
NRGene develops Artificial Intelligence software solutions which analyse genomics big data to enhance plants’ and animals’ natural breeding processes, without genetic engineering. NRGene’s ground-breaking technology allows its partners and customers to accelerate plants’ varieties’ development, while achieving increased yield, disease resistance, climate resilience and higher nutrition values.
