Biotech seed company Inari has secured a $103 million funding round to develop and commercialise higher-yielding seeds that demand fewer resources.
This initiative plans to use AI-powered predictive design and multiplex editing.
The round featured participation from existing and new investors, including Hanwha Impact, Canada Pension Plan Investment Board, Rivas Capital, NGS Super, State of Michigan Retirement System and company founder Flagship Pioneering, as well as RCM Private Markets fund, advised by Rokos Capital Management.
Inari CEO Ponsi Trivisvavet said: “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”.
A spokesperson for Hanwha Impact commented: “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”.
Stephen Berenson, Flagship Pioneering’s managing partner, added: “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.”
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