Seed gene-editing startup Inari eyes commercialization with $144 million round

Seed gene-editing startup Inari has announced the completion of a $144 million Series G financing round, boosting its total funding to $720 million. The latest round drew investments from new stakeholders, including a subsidiary of the Abu Dhabi Investment Authority (ADIA) and a notable financial investor, as well as continued support from existing backers such as Hanwha Impact, NGS Super, the State of Michigan Retirement System, and founding company Flagship Pioneering.

“This round of funding underscores investors’ steadfast confidence in our approach and our future,” said a spokesperson from Inari. Cristof Traudes, the spokesperson, highlighted the company’s advancement in product development and the beginning stages of commercialization. “This puts us in a robust financial position to further scale up and deliver impactful solutions that benefit both our seed customers and the planet,” he added.

Located in Cambridge, Massachusetts, Inari is pioneering “multiplex gene editing” technology, which allows for several concurrent modifications in plant genomes to improve pathways related to yield and other agricultural traits. The company’s SEEDesign platform employs AI-powered predictive analytics to identify new genetic pathways and optimize gene editing.

The technology aims to develop seeds that not only produce higher yields but also use fewer resources, an increasingly important factor as farmers face the challenges of climate change.

Currently, Inari’s focus is on major crops like soybeans, corn, and wheat, which are globally significant. The company asserts that its platform could potentially be adapted to any crop in any geographic area.

Traudes noted that Inari is engaged in practical demonstrations with seed companies to further validate and showcase its products in the field. Inari’s CEO, Ponsi Trivisvavet, expressed confidence in the transformative potential of their technology: “Inari is poised to redefine the seed technology landscape as we work to empower the industry with high-performing products on a global scale.”