The company will invest capital to further advance its technology platform and fuel product commercialization
CAMBRIDGE, Mass., Jan. 30, 2024 — 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.
About Inari
Inari, the SEEDesign™ company, develops seeds that address the world’s needs, pushing the boundaries of what is possible for a more sustainable, nature-positive food system. Through a combination of AI-powered predictive design and a pioneered multiplex gene editing toolbox, the company is unlocking the full potential of seed to bring step-change soybean, corn and wheat products to market. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. Inari is a growing team of more than 300 employees working to solve the critical issues of food security and sustainability. To learn more, visit Inari.com.
SOURCE Inari
