Massachusetts Agtech Startup Inari Raises $144 Million

• Funding Success: Massachusetts-based agtech startup Inari Agriculture raised $144 million in equity funding, increasing its valuation by 32% to $2.17 billion from $1.65 billion in January.
• Investor Support: Key investors include the Abu Dhabi Investment Authority, Hanwha Impact, NGS Super, the State of Michigan Retirement System, and Flagship Pioneering.
• Innovation Focus: Founded in 2016, Inari develops advanced seed technologies for soybean, corn, and wheat, aiming to reduce the use of water, land, and fertilizers.
• Global Impact: The company’s advancements align with the growing global emphasis on seed technologies to enhance food security amid rising geopolitical tensions.

Inari Agriculture Inc., a Massachusetts-based agricultural technology startup, has announced securing $144 million in new equity funding, bringing its valuation to an impressive $2.17 billion—a 32% increase from its previous valuation of $1.65 billion in January.

The funding round featured contributions from both new and existing investors.

Notable participants included a wholly-owned unit of the Abu Dhabi Investment Authority, alongside returning investors such as Hanwha Impact, NGS Super, the State of Michigan Retirement System, and Flagship Pioneering, Inari revealed on Tuesday.

“This fundraise validates our exciting progress across product development and entering commercialization,” said Ponsi Trivisvavet, Inari’s Chief Executive Officer, in an emailed statement. “It puts us in a robust financial position to scale up and deliver impactful solutions that benefit our seed customers and the planet alike.”

Founded in 2016 and headquartered in Cambridge, Massachusetts, Inari specializes in developing soybean, corn, and wheat seeds using advanced technology.

Their innovations aim to reduce the need for water, land, and fertilizers, contributing to sustainable farming practices.

The growing use of seed technologies is gaining traction globally, particularly as nations seek to bolster food security amidst rising geopolitical tensions.