Oversubscribed round co-led by the Forbion Bioeconomy Fund and Corteva as demand for Tropic’s breakthrough banana varieties surges worldwide
Norwich, UK, 12 March 2026
Tropic, the global leader in gene‑edited tropical crops, today announces the close of its oversubscribed $105 million Series C financing to accelerate the global commercial scale up of its banana and rice portfolios, and advance its pipeline of climate resilient crops. The round reflects surging global demand for resilient, sustainable food solutions and Tropic’s proven ability to rapidly and efficiently bring high performance gene‑edited crops to market.
The round was co-led by Forbion through its Bioeconomy Fund and Corteva through its Corteva Catalyst investment platform, with significant participation from Just Climate and IQ Capital. The round was also supported by new investors ABN Amro and Invest International, and existing investors Temasek, Five Seasons Ventures, Sucden Ventures, Genoa Ventures and Polaris Partners who participated in the round. As part of the financing, Joy Faucher, General Partner at Forbion, Tom Greene, Senior Director at Corteva, and Siddarth Shrikanth, Director at Just Climate, will join Tropic’s Board of Directors. Gustavo Bassetti, Rob Scott, Onno van de Stolpe and Alex Wilson will join as Board observers.
The financing follows a milestone year in which Tropic launched the first new commercial banana varieties in more than 75 years. These include a non-browning banana – named one of TIME Magazine’s Best Inventions of 2025 – and an extended shelf life variety that lengthens green life by an additional 12 days, increasing field yields, enabling new export routes and reducing transportation waste by up to 50 percent.
Furthermore, Tropic greatly advanced its Panama Disease (TR4) resistant programme in 2025, with the shipment of plants to establish a mother plantation – supporting commercial deployment from 2027. TR4 is fast-spreading, found in more than 20 countries globally and represents an existential threat for the $25 billion dollar banana industry – threatening food security and farmers livelihoods.
Expanding global production to meet rising demand
With demand for its initial commercial products rapidly outpacing supply, Tropic will use the Series C capital to expand large‑scale plant production capabilities, strengthen global supply chains and support commercial partnerships across major export markets.
The funding will also accelerate Tropic’s pipeline of banana varieties, developed for natural resistance to devastating diseases such as TR4 and Black Sigatoka, and expand development across its rice portfolio and support entry into additional high-impact crops to conquer global food supply challenges.
Executive commentary
Gilad Gershon, CEO of Tropic, said:
“This funding is a powerful endorsement of our team’s ability to bring breakthrough products to the hands of growers, exporters and consumers around the world. We are entering a new era, one where gene‑edited crops will significantly enhance food security and sustainability.
“2025 proved that our technology delivers – not in the distant future, but right now. With two banana varieties already on the market and demand outstripping supply, this investment enables us to scale global production and expand into new crops faster than ever before. We are excited to be partnering with our new investors as we progress our mission to build a world leading tropical seeds company.”
Joy Faucher, General Partner at Forbion, said:
“Tropic is an exemplary case of how advanced biotechnology can be applied with precision to challenges in planetary health, starting with banana and rice. Escalating disease pressure, limited innovation and a lack of cost-effective solutions are driving a growing environmental and supply chain risk in our food systems.
“Tropic has proven its leading position in addressing these threats by bringing its innovative technology to market and providing durable, scalable and resilient solutions to growers. We are proud to partner with an exceptional management team and a like-minded syndicate as Tropic scales commercially and builds a globally leading, category-defining seeds platform.”
Tom Greene, Senior Director at Corteva, said:
“Tropic’s non-browning banana varieties are a promising example of how the agriculture industry is leveraging innovation to deliver new and improved choices for farmers and consumers worldwide. We’re thrilled to support Tropic as we continue to advance our global portfolio of next-generation solutions to help farmers produce more food and feed, sustainably.”
Siddarth Shrikanth, Director, Natural Climate Solutions at Just Climate, said:
“Agriculture drives the majority of nature loss, and waste across food value chains is a meaningful contributor to global carbon dioxide and methane emissions. Based on a decade of breakthrough research, Tropic has developed crop varieties that are disease-resistant, higher-yielding and hardier in transit to tackle the environmental footprint of our food system at its source. With the technology proven and the first products in market, the company is now at an inflection point. As growth investors supporting the commercial scale-up of transformative nature solutions, we look forward to partnering with the Tropic team and our co-investors to bring their resilient, sustainable tropical crops to growers worldwide.”
Alex Wilson, Partner at IQ Capital, said:
“Tropic is exactly the kind of company we look to back at IQC – deep technology solving a massive real-world problem. Tropic’s gene-editing platform addresses crops that have been essentially unimprovable through conventional breeding, and the results speak for themselves: two banana varieties launched, with strong demand from growers and exporters fuelling significant revenue growth. With TR4 posing an existential threat to a $25 billion industry, the urgency behind Tropic's pipeline is only growing. We are delighted to be supporting Gilad and the team as they scale globally.”
About Tropic
Tropic is a pioneering tropical seeds company dedicated to the development of healthier, more robust, high-performing varieties of tropical crops. The company’s current core crop portfolio focusses on banana and rice, which together provide a source of livelihood to billions of people worldwide. Tropic utilises its proprietary GEiGS® platform and other cutting-edge gene editing technologies to develop improved crops with increased disease resistance, higher yields, and environmentally sustainable traits. By harnessing the power of advanced genetic engineering, Tropic is committed to addressing global agricultural challenges and providing innovative solutions that benefit farmers, consumers, and the environment. For more information visit Tropic.bio.