# Pairwise Plants

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pairwise-plants

- Industry: Agribusiness
- Headquarters: Durham, US
- Website: www.pairwise.com
- Total disclosed funding: $155M
- Latest round: Series C (Sep 17, 2024)
- Investors on record: 6

## About

Pairwise Plants, LLC, based in the US, is a biotechnological company focusing on agricultural innovation through its proprietary Fulcrum® platform, utilizing CRISPR technology to enhance crop traits for improved yield and sustainability.Founded in 2017 and headquartered in Durham, US, Pairwise Plants, LLC specializes in leveraging gene editing technology for crop improvement. The company has successfully raised a total of USD 40.00 mn across multiple funding rounds, with its most recent Series C round in September 2024, led by Deerfield Management Company. Founders Haven Baker, Keith Joung, and Tom Adams have a background in agricultural biotechnology, with Tom Adams currently serving as the CEO.Pairwise operates as a leading innovator in the agricultural sector, specifically through its proprietary Fulcrum® platform, which integrates CRISPR gene editing technology to develop crops with enhanced traits aimed at improving yield, nutritional value, and climate resilience. The company's core product offerings focus on precision plant breeding tools that enable partners in the agriculture industry to create high-value crop varieties more efficiently. By leveraging these tools, Pairwise addresses key agricultural challenges, including sustainability, disease resistance, and consumer preferences for convenient produce. Its client base includes global agricultural firms, nonprofit organizations, and research institutions that utilize the platform for various applications, such as developing seedless fruits and climate-resilient vegetable varieties. The geographical markets for these products extend beyond the United States to include partnerships and licensing agreements with companies and institutions across Europe, Asia, and Latin America.Pairwise's revenue model is primarily driven by partnerships and licensing agreements with various stakeholders in the agriculture value chain. The company collaborates with agricultural firms and research institutions, providing them access to its Fulcrum® platform for gene editing in exchange for licensing fees or joint development agreements. These transactions support a B2B structure where clients utilize the platform to expedite their breeding processes, ultimately leading to the commercialization of enhanced crop varieties. The financial arrangements often involve milestone payments tied to the successful development and commercialization of specific traits or products. Additionally, Pairwise is engaged in joint ventures, such as its partnership with Sun World International, which allows it to share resources and expertise while focusing on innovative product development.In September 2024, Pairwise Plants, LLC raised USD 40.00 mn in Series C funding led by returning investors Deerfield Management Company, alongside participation from Aliment Capital, Corteva Agriscience, and Leaps by Bayer. The recent funding will support the launch of new products designed to enhance crop resilience and nutritional value. Pairwise aims to expand its market presence in Europe, Asia, and Latin America, targeting these regions for product partnerships and licensing agreements by 2025.

## Funding rounds

- Series C, Sep 17, 2024, $40M — Deerfield Management, Leaps by Bayer, Aliment Capital, Corteva Agriscience
- Series B, Feb 3, 2021, $90M — Temasek Holdings, Deerfield Management, Leaps by Bayer, Aliment Capital
- Series A, Mar 20, 2018, $25M — Deerfield Management, Monsanto Growth Ventures

## Investors

- Deerfield Management (https://capitalatlas.ai/funds/deerfield-management) — Series A, Series B, Series C
- Monsanto Growth Ventures (https://capitalatlas.ai/funds/monsanto-growth-ventures) — Series A
- Temasek Holdings — Series B
- Leaps by Bayer (https://capitalatlas.ai/funds/leaps-by-bayer) — Series B, Series C
- Aliment Capital (https://capitalatlas.ai/funds/aliment-capital) — Series B, Series C
- Corteva Agriscience — Series C