Inari, a Cambridge, MA-based seed maker company, raised $124M in Inari Series E funding.
The round was led by Canada Pension Plan Investment Board and Flagship Pioneering with participation from Hanwha Impact Partners, NGS Super, Banque Pictet, and Sage Hill Investors.
The company intends to use the funds to further advance its position in multiplex gene-edited seed technology, support expansion of product development and deliver new value in the commercial seed market.
Led by CEO Ponsi Trivisvavet, Inari pairs AI-powered predictive design with multiplex gene editing to make seeds that address the world’s needs for a sustainable, nature-positive food system.
In addition to the equity fundraise, the company also entered into a refinanced and upsized loan agreement with K2 HealthVentures, a healthcare-focused specialty finance company. This new investment enables Inari to access up to $60m in debt capital.
Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. The company has a team of more than 230 employees.
FinSMEs
04/10/2022