Cambridge, Massachusetts, USA
January 30, 2024
The company will invest capital to further advance its technology platform and fuel product commercialization
Inari today announced the completion of a $103 million fundraise, bringing its cumulative equity raised to more than $575 million. The successful investment round signals confidence in Inari's ability to develop and commercialize higher-yielding seeds that require fewer resources, using AI-powered predictive design and multiplex gene editing.
The fundraise received strong support from existing investors, including Hanwha Impact, Canada Pension Plan Investment Board (CPP Investments), Rivas Capital, NGS Super, State of Michigan Retirement System and company founder Flagship Pioneering. The company also welcomed several new investors including RCM Private Markets fund, advised by Rokos Capital Management (US) LP.
"These investments represent further external validation of Inari's innovative technology and confidence in our creation of significant economic and environmental value by delivering our breakthrough, nature-positive products to seed customers," said Inari CEO Ponsi Trivisvavet.
Hanwha Impact highlighted Inari's strong progress since their initial 2021 investment as a key reason for their increased support in this fundraise.
"Inari's cutting-edge technology platform, combined with a winning commercial model, mean that it is ideally placed to deliver significant value and help create a truly sustainable future for agriculture," said a Hanwha Impact spokesperson.
Added Stephen Berenson, Flagship Pioneering Managing Partner: "This successful fundraise reflects continued confidence in the company's ability to deliver on its nature-positive vision. I'm also incredibly enthusiastic about my upcoming appointment to the Inari board, and I look forward to working with the company to drive even greater impact and value."
Visit Inari.com to learn more.
Topics
Species
