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Inari Agriculture Inc., a Cambridge-based agtech startup that wants to craft "personalized seeds" for farmers, raised $40 Million in Series B Funding, bringing its total funding to $55 million.
Flagship Pioneering founded the company in 2016, and was unveiled in July this year. The company claims to unite biological and data sciences to provide scientists and farmers with new crops better suited for local environments. This round's investors were Acre Venture Partners, a $125 million investment fund backed exclusively by Campbell Soup Co., and Alexandria Venture Investments, a wing of the New York-based real estate investment trust that owns and operates much of the lab space in Kendall Square.
“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 company will use proceeds from this round to invest in technology and talent.
