Massachusetts-based agtech startup Inari has reached a significant milestone in its quest to revolutionize sustainable agriculture, announcing the completion of a $103 million fundraise. This latest funding round boosts Inari's total equity raised to over $575 million, valuing the company at an impressive $1.65 billion. The successful investment round underscores the confidence in Inari's innovative approach to develop and commercialize higher-yielding seeds that require fewer resources, utilizing AI-powered predictive design and multiplex gene editing.
Strong Support from Investors
The fundraise attracted 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. Inari also welcomed new investors like RCM Private Markets fund, advised by Rokos Capital Management (US) LP. This diverse investor base reflects a broad recognition of Inari's potential to create significant economic and environmental value.
Inari's Nature-Positive Products
Inari CEO Ponsi Trivisvavet sees these investments as an external validation of Inari's innovative technology. The company is focused on delivering breakthrough, nature-positive products to seed customers. Inari's technology aims to provide seeds that not only boost yields but also minimize environmental impact, a crucial advancement in the face of global climate challenges.
Hanwha Impact's Continued Support
Hanwha Impact, an existing investor since 2021, has increased its support in this fundraise, citing Inari's strong progress as a key factor. Their spokesperson emphasized Inari's cutting-edge technology platform and its potential to deliver significant value and foster a sustainable future for agriculture.
Flagship Pioneering's Enthusiasm
Stephen Berenson, Managing Partner at Flagship Pioneering, expressed his enthusiasm about the successful fundraise and Inari's nature-positive vision. Berenson, who is also set to join the Inari board, looks forward to contributing to the company's continued impact and value creation.
A Trend in Agricultural Industry
The strides made by Inari represent a growing trend in the agricultural industry, where technology and sustainability are becoming increasingly intertwined. This trend is pivotal in creating solutions that are not just economically viable but also environmentally friendly.
Conclusion: A Promising Future for Agtech
Inari's latest fundraising success is more than just a financial milestone; it's a testament to the growing importance of sustainable agricultural practices. With its innovative approach to seed production, Inari is at the forefront of a movement that blends advanced technology with ecological responsibility. As the company continues to grow and expand its reach, it paves the way for a future where technology is key to solving global food security and environmental conservation challenges.