Bloomberg: AgTech Startup Inari Nabs New Funding at $1.2 Billion Valuation

Inari, a startup specializing in seed technology, has reached a $1.2 billion valuation after raising $208 million in fresh financing.

The Cambridge, Massachusetts-based company’s funding round was co-led by Flagship Pioneering, which founded the firm. New investors included G Squared and Pavilion Capital, while participating existing backers include Alexandria Venture Investments, Investment Corp. of Dubai, Rivas Capital and Banque Pictet, on behalf of its clients.

Inari aims to make food production more sustainable, using gene-edited seeds to enhance crop yield while requiring less fertilizer and water. The funding will be used to accelerate development of its existing corn and soybean platform; expand into new crops, such as wheat; and grow in markets outside North and South America, Inari CEO Ponsi Trivisvavet said in an interview.

Read more in Bloomberg.