Inari Receives $124M and Eyes Expansion

Oct 7, 2022

Inari’s money tree is looking well fertilized with their newest $124M in funding.

Their goal? To advance their multiplex gene-edited seed technology, expand product development, and deliver new value to the commercial seed market with their SEEDesign platform.

The backstory: In 2018, Inari opened its Seed Foundry in West Lafayette, Indiana, then invested $22M to expand the greenhouse in June 2021.

Soundbite: “This news reaffirms the relevance and importance of our mission at Inari to unlock the full potential of seed,” said Inari CEO, Ponsi Trivisvavet. “These investments put us in a position to truly push the boundaries of what is possible and design seeds for a more sustainable, nature-positive food system.”

Zoom out: Inari’s multiplex gene editing approach will help agriculture with one of its most pressing issues: producing enough to feed a growing population with less land, water, and chemicals. The technology uses native genes and works with plants’ natural diversity.

Funders included Canada Pension Plan Investment Board (CPP Investments), Inari founder Flagship Pioneering, and Sage Hill, as well as existing investors Hanwha Impact Partners, NGS Super, and Banque Pictet.

The money will help Inari scale product development for soybeans, corn, and wheat.

Total funding to date has reached $475M, and company valuation hit $1.5B.