Inari, a Cambridge, MA-based SEEDesign company, closed a $103M funding round.
The round, which brought the total amount to $575M, saw participation 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, and new investors including RCM Private Markets fund, advised by Rokos Capital Management (US) LP.
The company intends to use the funds to further advance its technology platform and accelerate the product commercialization.
Led by CEO Ponsi Trivisvavet, Inari, the SEEDesign™ company, develops seeds that address needs, pushing for a more sustainable, nature-positive food system through a combination of AI-powered predictive design and a multiplex gene editing toolbox. The company has a team of more than 300 employees.
Founded by Flagship Pioneering in 2016, Inari has additional sites in West Lafayette, Ind., and Ghent, Belgium.
Commenting on the news, 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.”