Ag-tech startup Inari raises $103mn in latest funding round

Inari Agriculture announced on Tuesday that it has secured $103mn in its latest funding round, bringing the total equity it has raised to more than $575mn.

The ag-tech startup said that the round was led by its existing investors Hanwha Impact, the Canada Pension Plan Investment Board, Rivas Capital, NGS Super, the State of Michigan Retirement System, and Flagship Pioneering.

It added that a new investor, RCM Private Markets fund, which is an affiliate of Rokos Capital Management, also participated in the round.

Inari, which is based in Cambridge, Massachusetts, said that, using AI-powered predictive design and multiplex gene editing, it is seeking to develop and commercialize higher-yield seeds that require less water, land, and fertilizer.

The startup’s CEO, Ponsi Trivisvavet, commented that: ‘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.’