The investment will further advance Inari’s leading position in multiplex gene-edited seed technology, support expansion of company product development and ultimately deliver new value in the commercial seed market.
The Series E fundraise received strong support from investors, including new investor Canada Pension Plan Investment Board (CPP Investments) and company founder Flagship Pioneering. Additional funds were raised from existing investors including Hanwha Impact Partners, NGS Super and Banque Pictet on behalf of some of their customers, as well as new investor Sage Hill Investors.
“This news reaffirms the relevance and importance of our mission at Inari to unlock the full potential of seed,” said Inari CEO Ponsi Trivisvavet. “These investments put us in a position to truly push the boundaries of what is possible and design seeds for a more sustainable, nature-positive food system.”
For Flagship Pioneering, the funds signify continued support of Inari’s founding vision.
“When Flagship Pioneering founded Inari, we envisioned the potential of adapting technology platforms previously used for human health to transform our global food system and have a restorative impact on our planet,” said Robert Berendes, Ph.D., Flagship Pioneering executive partner and Inari board member. “This fundraise further validates the company’s pioneering advances and fuels the next phase of bringing breakthrough seed solutions to market, thereby unlocking new possibilities for farmers, consumers and the planet.”
Inari’s unique take on tackling climate change focuses on using the seed itself as a driver for sustainable solutions.
“Inari is introducing innovations that stand to make a big impact on the long-term future of the global food system,” said Leon Pedersen, managing director and head of growth equity at CPP Investments. “As long-term investors, we are confident that our investment in Inari will support their efforts to feed the world more sustainably while also producing strong risk-adjusted returns for the CPP Fund.”
In addition to the successful equity fundraise, Inari 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 $60 million in debt capital, further increasing the company’s future financial flexibility.
Both of these financial developments support Inari’s SEEDesign™ platform which aims to deliver significant increases in yield while simultaneously improving crops’ use efficiency of resources such as water and fertilizer.
Source:https://worldagritechinnovation.com/
