Press Releases 08.09.2018
Inari Secures $40 Million in Series B Funding to Expand its Development of Transformational Plant Breeding Technologies
- Inari completes a $40M Series B financing round, bringing its total funding to $55M
- Founder Flagship Pioneering is joined by Acre Venture Partners and Alexandria Venture Investments in this financing
- Additional funding will support Inari's continued investment in transformational plant breeding technology research and product development
CAMBRIDGE, Mass. Aug. 9, 2018 -- Inari, a transformational plant breeding technology company with a mission to transform agriculture and positively impact society and the environment, announced today it has completed a $40 million Series B financing round, bringing its total funding to $55 million. Inari was founded in 2016 by Flagship Pioneering, which led and capitalized the company before spinning it out in 2018. Acre Venture Partners and Alexandria Venture Investments joined Flagship in this financing.
"Inari has developed promising technology and an unprecedented approach to plant breeding, which will help farmers sustainably grow more nutritious crops at higher productivity," said Ignacio Martinez, General Partner at Flagship Pioneering. "We are proud of Inari's rapid growth and successful spin-out, and we're pleased to continue to support the company as they progress."
The additional funds will enable Inari to accelerate the deployment of technologies into crops while increasing its cutting-edge technology tools, as well as add to its diverse talent pool of more than 80 scientists, statisticians, engineers and advisors with a wide range of backgrounds from biology, agronomy, data sciences and software engineering.
"As the challenges to global food supplies continue to grow, we need more creative ways to help farmers increase their profitability and grow higher quality crops, while remaining environmentally respectful and providing nutritional food for consumers," said Inari CEO Ponsi Trivisvavet. "With this additional financing, we are well positioned to even further accelerate our ambitions to become a global player in food and agriculture."
Founded by Flagship Pioneering, Inari is a transformational plant breeding company developing state-of-the-art technology for agriculture's current and future growing needs. Inari's Cambridge, MA-based staff employs an unusual blend of disciplines--including biology, computational agronomy, data sciences and software engineering--to provide a faster, more predictable, environmentally healthy, and more affordable growing process for farmers. The company's holistic approach begins by collaborating with seed partners to reduce breeding time and cost, increase profitability for farmers, be respectful to the environment, and provide healthier food for consumers. To learn more about how Inari is changing the culture of agriculture, visit Inari.com or follow the company on Twitter @inari_ag.