Agtech Breakthrough: Inari Agriculture Secures $144 Million Funding
A New Era in Sustainable Farming
Inari Agriculture Inc., a pioneering agtech startup based in Cambridge, Massachusetts, has announced a significant milestone in its journey towards revolutionizing the farming industry. The company has successfully raised $144 million in new equity, valuing it at a staggering $2.17 billion – a remarkable 32% increase from its previous valuation of $1.65 billion in January last year.
Strategic Investors Join the Fold
This latest funding round saw the participation of new investors, including a wholly-owned unit of the Abu Dhabi Investment Authority. Existing investors, such as Hanwha Impact, NGS Super, the State of Michigan Retirement System, and Flagship Pioneering, also contributed to the round. This diverse group of investors brings a wealth of expertise and resources to the table, further solidifying Inari’s position as a leader in the agtech space.
Technology-Driven Innovation
Founded in 2016, Inari has been at the forefront of developing cutting-edge technology to transform the way we grow crops. By leveraging its innovative approach, the company has been able to create soybean, corn, and wheat varieties that require significantly less water, land, and fertilizer. This not only benefits farmers but also contributes to a more sustainable food system.
Food Security in a Changing World
As geopolitical tensions continue to rise, countries are increasingly turning to seed technologies as a means to ensure food security. Inari’s groundbreaking work in this area has the potential to make a significant impact on a global scale.
CEO Ponsi Trivisvavet Weighs In
“This fundraise is a testament to the incredible progress we’ve made in product development and commercialization,” said Inari CEO Ponsi Trivisvavet. “With this new funding, we’re well-positioned to scale up our operations and deliver meaningful solutions that benefit both our customers and the planet.”
A Bright Future Ahead
As Inari Agriculture continues to push the boundaries of what’s possible in sustainable farming, one thing is clear: the future of agriculture has never looked brighter. With its innovative technology, strategic partnerships, and commitment to making a positive impact, Inari is poised to revolutionize the way we grow our food – and change the world for the better.
Leave a Reply