Inari Revenue, Valuation, Funding & Investors

Inari is valued at $2.2B as of January 2025.

See full Inari profile

Last Inari valuation

$2.2B

Series G · Jan 2025

Last Inari funding round

$144M

Series G · Jan 2025

Inari revenue

$383M

Series E · Oct 2022

Key investors in Inari

  • Flagship Pioneering
  • NGS Super
  • Hanwha Impact Partners
  • Alexandria Venture Investments
  • CPP Investments
  • Acre Venture Partners

Inari Overview

About Inari

Inari is a West Lafayette-headquartered biotechnology company developing seed traits through multiplex gene editing and predictive design via its SEEDesign platform. The firm targets corn, soybean, and wheat improvements for yield, drought tolerance, and nitrogen use efficiency. Founded in 2016, Inari operates greenhouses and field trial sites across the US Midwest and Brazil. It collaborates with Corteva and Bayer on commercialization pipelines for hybrid varieties suited to diverse climates.


Founded

2016

HQ

United StatesUnited States

Website

inari.com

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Revenue

$383M (Oct 2022)

Valuation

$2.2B (Jan 2025)

Inari Valuation

Inari is currently valued at $2.2B, based on its Series G in January 2025.

The $144M round included Flagship Pioneering, Hanwha Impact Partners, Abu Dhabi Investment Authority, NGS Super and State of Michigan Retirement System.

Inari's valuation has grown 3.6x from $601M at its Series C in August 2019 to $2.2B in January 2025, across 5 priced rounds.

Inari valuation by funding round

Revenue multiple
Inari valuation by funding round
DateStageValuationRevenue Multiple
Jan 2025Series G$2.2B-
Jan 2024Series F$1.6B-
Oct 2022Series E$1.5B3.9x
May 2021Series D$1.2B4.3x
Aug 2019Series C$601M11.8x

Inari Revenue

Inari's latest recorded revenue is $383M, as of its Series E in October 2022. At a $1.5B valuation, that implies a 3.9x revenue multiple.

Revenue grew from $51M in August 2019 to $383M in October 2022, while the revenue multiple moved from 11.8x to 3.9x.

Inari revenue by funding round

Inari revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Oct 2022$383M$1.5B3.9xSeries E
May 2021$277M$1.2B4.3xSeries D
Aug 2019$51M$601M11.8xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Inari Funding History

Inari has raised a total of $708M across 6 funding rounds.

Inari's first fundraising round was a $40M Series B in August 2018. The most recent completed round was a $144M Series G in January 2025.

Inari funding rounds

Inari funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2025Series GFlagship Pioneering; Hanwha Impact Partners; Abu Dhabi Investment Authority; NGS Super; State of Michigan Retirement System$144M$2.2BInari is a Cambridge, Massachusetts-based agtech company founded in 2016 by Flagship Pioneering, focusing on seed technology for large-acre crops like soybeans, corn, and wheat. It combines AI-powered predictive design (SEEDesign™ platform) with multiplex gene editing and CRISPR to create high-yielding, sustainable, resource-efficient seeds adapted to local environments, operating an asset-light model as a partner to seed companies rather than a competitor. On January 7, 2025, Inari completed a $144 million Series G funding round, bringing cumulative equity raised to over $720 million. The round was led by new investors including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and a large financial investor for agriculture projects, with participation from existing backers Hanwha Impact Partners, NGS Super, State of Michigan Retirement System, and Flagship Pioneering. Funds will expand gene-editing technology, accelerate crop breeding, scale the genomics platform, advance commercialization of first-generation products, and support long-term growth amid a lawsuit with Corteva. The round follows a $103 million Series F in January 2024 at a $1.65 billion valuation, supported by Hanwha Impact, CPP Investments, Rivas Capital, NGS Super, State of Michigan Retirement System, Flagship Pioneering, and new investor RCM Private Markets (Rokos Capital affiliate), bringing cumulative funding then to over $575 million. Earlier, Inari hit a $1 billion valuation in 2021 and $1.5 billion as of October 2022. Inari employs around 102-143 people and positions itself for IPO potential while defending against Corteva's IP lawsuit, which it counters as anticompetitive. Investors highlight its technology, team, and progress toward redefining the seed industry for sustainability, food security, and farmer profitability.
Jan 2024Series FFlagship Pioneering; Hanwha Impact Partners; CPP Investments; NGS Super; Rivas Capital; State of Michigan Retirement System; Rokos Capital Management$103M$1.6BInari Agriculture, a Cambridge, Massachusetts-based agtech startup founded in 2016 by Flagship Pioneering, develops higher-yielding, climate-resilient seeds using its AI-powered SEEDesign platform that employs multiplex gene editing and CRISPR technology to edit multiple native genes in plants like soybeans, corn, and wheat. The platform aims to boost yields by 10-20% while cutting nitrogen and water use by 40%, targeting row crops for initial commercialization in the US, Canada, and Australia, starting with soybeans in the US. Inari focuses on a commercial model combining gene-editing with local adaptation for sustainable farming amid challenges like resource efficiency and environmental impact. On January 30, 2024, Inari closed a $103 million equity funding round—described variably as Series F—at a post-money valuation of $1.65 billion, bringing total equity raised to over $575 million. Existing investors including Hanwha Impact Partners, CPP Investments, Flagship Pioneering, Rivas Capital, NGS Super, and State of Michigan Retirement System participated strongly, joined by new investor RCM Private Markets fund (affiliate of Rokos Capital Management). The funds will advance the SEEDesign platform, accelerate product development, expand the team (over 300 employees), scale operations globally, and support entry into commercialization. The round follows a $124 million Series E over a year prior and validates Inari's progress in proving its technology since 2021 investments, such as Hanwha Impact's. CEO Ponsi Trivisvavet highlighted the raise as external validation for delivering nature-positive products to seed customers, creating economic and environmental value. Flagship's Stephen Berenson, soon joining the board, emphasized confidence in Inari's sustainable agriculture vision.
Oct 2022Series EPictet Private Equity Investors S.A.; Flagship Pioneering; Hanwha Impact Partners; CPP Investments; NGS Super; Sage Hill Capital$124M$1.5BInari Agriculture is a Massachusetts-based seed technology startup founded in 2016 that uses multiplex gene editing and data sciences via its SEEDesign platform to design seeds for commodity crops like soybeans, corn, and wheat, aiming to improve yields, reduce land, water, and fertilizer use, and support sustainable agriculture amid climate challenges. The company closed a $124 million Series E funding round in 2022 with investors including new participants Canada Pension Plan Investment Board (CPP Investments), Sage Hill Investors, and existing backers Flagship Pioneering (founder), Hanwha Impact Partners, NGS Super, and Banque Pictet (Pictet Private Equity Investors S.A.), bringing total funding to $475 million and post-money valuation to $1.5 billion. This round followed a $208 million Series D in May 2021, $89 million Series C in 2019, and others, with proceeds allocated to scale product development, expand operations including greenhouses in West Lafayette, Indiana, and accelerate commercialization of demo plots shown to over 10,000 growers. Inari demonstrated proof-of-concept with single-edit soybeans grown in demo plots during summer 2022, focusing initially on familiarizing farmers with the technology before advancing to multiplex edits. Concurrently, the company refinanced and upsized a loan with K2 HealthVentures to up to $60 million in debt capital, enhancing financial flexibility. CEO Ponsi Trivisvavet emphasized the round's validation of Inari's mission to unlock seed potential for food system challenges, with Flagship Pioneering's Robert Berendes noting its role in delivering breakthrough seed solutions for farmers, consumers, and the planet. The funding positions Inari to maintain leadership in gene-edited seeds for sustainability, targeting commercialization soon while continuing focus on commodity crops.
May 2021Series DAlexandria Venture Investments (lead); Flagship Pioneering (lead); Pictet Private Equity Investors S.A.; Investment Corporation of Dubai (ICD); G Squared; Rivas Capital; Pavilion Capital$208M$1.2BInari Agriculture, a Cambridge, MA-based agtech startup founded in 2016 as a Flagship Pioneering subsidiary and spun out in 2018, develops genetically modified seeds using computational and genetic tools to create high-performing, climate-resilient plant varieties for crops like corn and soybeans, partnering with seed producers to improve agricultural economics and environmental sustainability. The company raised $208 million in its Series D funding round on May 12, 2021, co-led by Flagship Pioneering and Alexandria Venture Investments, with participation from existing investors including Investment Corporation of Dubai (ICD), Banque Pictet (Pictet Private Equity Investors), and Rivas Capital, plus new investors G Squared and Pavilion Capital. This round brought Inari's cumulative equity funding to over $352 million and its post-money valuation to $1.2 billion, achieving unicorn status as reported by multiple sources. Prior to this, Inari had completed a $45 million debt financing about a year earlier. The proceeds are intended to advance its seed design platform, expand work in North and South America, and scale globally to enhance seed performance across geographies.
Aug 2019Series CFlagship Pioneering (lead); Acre Venture Partners; EDBI; 50 South Capital$89M$601MInari Agriculture, founded by Flagship Pioneering in 2016 and headquartered in Cambridge, Massachusetts, develops next-generation seeds using computational design and advanced breeding techniques to improve crop performance, yield, and sustainability in agriculture, targeting high-performing corn and soybean varieties for U.S. farmers through partnerships with independent seed producers. The company operates additional sites in West Lafayette, Indiana, and Ghent, Belgium, with a team exceeding 120 employees by mid-2019 and was recognized as a 2019 Technology Pioneer by the World Economic Forum. On August 6, 2019, Inari closed its $89 million Series C funding round, led by founder Flagship Pioneering and joined by new investors including Investment Corporation of Dubai (ICD), EDBI, Acre Venture Partners, and others, bringing total funding to $144 million at that point. Proceeds supported expansion of Inari's computational and genomic tools for seed development and accelerated commercial launch of its corn and soybean seeds. The round aligned with Inari's early growth phase, following a $40 million Series B in 2018 valued at $170.67MM post-money. Subsequent rounds included a $208 million Series D in 2021 at $1.21B valuation and later financings building cumulative equity to over $720 million by 2025, reflecting ongoing investor confidence from Flagship and others in its seed technology platform.
Aug 2018Series BAcre Venture Partners (lead); Alexandria Venture Investments (lead)$40M--

Who has invested in Inari?

17 investors have backed Inari across its funding rounds, including Flagship Pioneering, NGS Super, Hanwha Impact Partners, Alexandria Venture Investments, CPP Investments and Acre Venture Partners.

Lead investors include Alexandria Venture Investments, Flagship Pioneering and Acre Venture Partners.


Inari Investors

Investors in Inari by funding rounds participated
InvestorHQRoundsRoleFirst check
Flagship PioneeringUnited StatesUnited States5LeadAug 2019
Hanwha Impact PartnersUnited StatesSan Francisco, CA3ParticipantOct 2022
NGS SuperAustraliaMelbourne3ParticipantOct 2022
Pictet Private Equity Investors S.A.SwitzerlandGeneva2ParticipantMay 2021
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2LeadAug 2018
Acre Venture PartnersUnited StatesUnited States2LeadAug 2018
CPP InvestmentsCanadaToronto2ParticipantOct 2022
Rivas CapitalUnited StatesUnited States2ParticipantMay 2021
State of Michigan Retirement SystemUnited StatesMichigan, ND2ParticipantJan 2024
Investment Corporation of Dubai (ICD)UAEDubai1ParticipantMay 2021
Abu Dhabi Investment AuthorityUAEAbu Dhabi1ParticipantJan 2025
G SquaredUnited StatesChicago, IL1ParticipantMay 2021
Sage Hill CapitalUnited StatesAnn Arbor, MI1ParticipantOct 2022

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Inari Competitors

Inari competitors include listed companies like Grand Pharmaceutical, Brightgene Bio-medical, Genus and Recursion Pharmaceuticals, and private ones like Shiji Biotechnology and ArsenalBio.

Public and private companies comparable to Inari
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Shiji BiotechnologyChinaHefeiPrivate--$2.7B-
Grand PharmaceuticalChinaChinaPublicly listed$1.6B$284M$2.2B1.6x
Brightgene Bio-medicalChinaChinaPublicly listed$182M$34M$2.2B14.0x
GenusUnited KingdomUnited KingdomPublicly listed$903M$122M$1.9B2.2x
ArsenalBioUnited StatesUnited StatesPrivate--$1.9B-
Recursion PharmaceuticalsUnited StatesUnited StatesPublicly listed$74M($582M)$1.9B26.6x

Inari Public Comps

Inari is still privately-owned, but its public comps include Trevi Therapeutics, Bodycote, Sarepta Therapeutics, Teijin, Ube, UroGen Pharma, Dermapharm Holding, Generate Biomedicines, Grand Pharmaceutical and Minerals Technologies.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Trevi Therapeutics-($49M)--(37.6x)(25.8x)
Bodycote$976M$217M2.5x2.5x11.2x9.4x
Sarepta Therapeutics$2.2B($656M)1.1x1.3x(3.7x)12.8x
Teijin$5.6B($442M)0.6x0.6x(8.1x)10.5x
Ube$3B$393M1.4x1.3x10.2x-
UroGen Pharma$110M($142M)20.4x8.5x(15.8x)(99.6x)
Dermapharm Holding$1.3B$362M2.4x2.4x8.9x8.4x
Generate Biomedicines$32M($222M)56.4x59.4x(8.1x)(7.2x)

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Common questions about Inari

When was Inari founded?Inari was founded in 2016.
Where is Inari headquartered?Inari is headquartered in United States.
Is Inari publicly listed?No, Inari is a private, VC-backed company.
What is Inari's valuation?Inari was last valued at $2.2B in its Series G in January 2025.
How much funding has Inari raised?Inari has raised $708M across 6 funding rounds.
What was Inari's last funding round?Inari's last funding round was a $144M Series G in January 2025.
Who are Inari's investors?Inari's investors include Flagship Pioneering, Hanwha Impact Partners, NGS Super, Pictet Private Equity Investors S.A., Alexandria Venture Investments, Acre Venture Partners, CPP Investments, Rivas Capital, State of Michigan Retirement System, Investment Corporation of Dubai (ICD) and 7 others.
What is Inari's revenue?Inari's latest recorded revenue is $383M (October 2022).
What is Inari's revenue multiple?Inari's latest valuation implies a 3.9x revenue multiple ($1.5B valuation on $383M of revenue).
Which companies are comparable to Inari?Companies comparable to Inari include Shiji Biotechnology, Grand Pharmaceutical, Brightgene Bio-medical, Genus, ArsenalBio and Recursion Pharmaceuticals.

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