Funding round
Inari Series B
Inari, which works in seed design and breeding technology development in Cambridge, raised $40M in a Series B round announced on 9 Aug 2018, led by Flagship Pioneering. 3 firms took part. It is Inari's first venture round on record.
$40M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Inari did not disclose a valuation in this round. It is Inari's first venture round on record, 2 years after it was founded in 2016. It is 5.6% of the $708M Inari has raised in the venture rounds on record. Inari raised again 12 months later: a Series C round of $89M in Aug 2019. Its next priced round, a Series D in May 2021, valued it at $1.20B.
Inari's funding rounds
Inari has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Series B this round 9 Aug 2018, led by Flagship Pioneering $40M
- Series C 6 Aug 2019 $89M
- Debt not a venture round 22 Apr 2020 $45M
- Series D 12 May 2021, led by Flagship Pioneering and Alexandria Venture Investments $208M$1.20B post-money
- Series E 4 Oct 2022, led by Canada Pension Plan Investment Board and Flagship Pioneering $124M$1.50B post-money
- Growth 30 Jan 2024 $103M$1.65B post-money
- Growth 7 Jan 2025 $144M
Investors
Who put money in
Flagship Pioneering led the round with 2 other firms.
Lead investor
- Flagship Pioneering new investor
Also in the round
- backs 16 venture-backed companies new investor
- Alexandria Venture Investments new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
25 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $25M, and this round was 1.6 times the median. The closest in time, other companies' Series B rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 30 Aug 2018 | $5.4M | not disclosed | not named |
| Biotechnology | 3 Sep 2018 | $45M | not disclosed | Redmile Group |
| Biotechnology | 11 Sep 2018 | $40M | not disclosed | RiverVest |
| Biotechnology | 26 Sep 2018 | $25M | not disclosed | Fund+ |
| Biotechnology | 16 Jul 2018 | $19M | not disclosed | Global Health Investment Corporation |
| Biotechnology | 9 Jul 2018 | $15M | not disclosed | not named |
| Biotechnology | 22 Oct 2018 | $7.0M | not disclosed | Venture Investors |
| Biotechnology | 16 May 2018 | $38M | not disclosed | HSG and LYFE Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Inari raise in its Series B round?
Inari raised $40M in its Series B round, announced in Aug 2018.
Who led Inari's Series B round?
Flagship Pioneering led it, with Acre Venture Partners and Alexandria Venture Investments.
What was Inari's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Biotechnology?
25 Series B rounds in Biotechnology within a year either side disclosed an amount; the median was $25M, and this round was 1.6 times the median.
Did Inari raise again after this round?
Yes: a Series C round in Aug 2019 of $89M.