The US-based biotechnology company Plastomics has completed the initial closure of its series B financing round, securing $5.8 million for its chloroplast engineering technology. Participants in the round included Fulcrum Global Capital, Lewis & Clark Partners, Skull Diamond and Heart Capital, Missouri Technology Corporation, and other agriculturally focused investors. Plastomics intends to use the funds to accelerate its research, positioning the company to  deliver what would reportedly be the world's first transgenic traits in the chloroplasts of maize.

Founded in 2017, Plastomics specialises in chloroplast engineering for the improvement of row crops, such as maize and soybean. Its proprietary chloroplast engineering platform allows for the precise insertion of beneficial traits into the chloroplasts of plant cells, aiming to produce crops with higher yields and enhanced resistance. Over the next 12–24 months, the company plans to advance its chloroplast trait delivery platform for soybeans through its final commercial phase, with field trials scheduled for the near future.