Funding round
Inari Series C
Inari, which works in seed design and breeding technology development in Cambridge, raised $89M in a Series C round announced on 6 Aug 2019. 4 firms took part. It is Inari's second venture round on record; the one before was a Series B in Aug 2018.
$89M
Amount raised
Not disclosed
Post-money valuation
4
Investors
no lead named
Valuation
What this round says about the price
Inari did not disclose a valuation in this round. It came 12 months after Inari's Series B. It is 13% of the $708M Inari has raised in the venture rounds on record. Inari raised again 21 months later: a Series D round of $208M in May 2021, at $1.20B post-money.
Inari's funding rounds
Inari has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Series B 9 Aug 2018, led by Flagship Pioneering $40M
- Series C this round 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
4 firms took part; no lead investor was named.
Investors
- Flagship Pioneering new investor
- Investment Corporation of Dubai new investor
- EDBI backs 67 venture-backed companies new investor
- backs 16 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $56M, and this round was 1.6 times the median. The closest in time, other companies' Series C rounds in Biotechnology:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 28 Aug 2019 | $67M | not disclosed | IDG Capital |
| Encoded Therapeutics Biotechnology | 26 Jun 2019 | $104M | not disclosed | Venrock |
| Biotechnology | 15 Oct 2019 | $85M | not disclosed | Aliment Capital and Temasek |
| Biotechnology | 1 Jun 2019 | $15M | not disclosed | Finistere Ventures |
| Biotechnology | 17 Dec 2019 | $28M | not disclosed | Northpond Ventures |
| Biotechnology | 10 Jan 2020 | $32M | not disclosed | not named |
| Biotechnology | 8 Jan 2020 | $16M | not disclosed | not named |
| Biotechnology | 19 Feb 2020 | $45M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Inari raise in its Series C round?
Inari raised $89M in its Series C round, announced in Aug 2019.
Which investors took part in Inari's Series C round?
Flagship Pioneering, Investment Corporation of Dubai, EDBI and Acre Venture Partners.
What was Inari's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Biotechnology?
16 Series C rounds in Biotechnology within a year either side disclosed an amount; the median was $56M, and this round was 1.6 times the median.
Did Inari raise again after this round?
Yes: a Series D round in May 2021 of $208M at $1.20B post-money.