Inari, a Cambridge, Mass.-based biotechnology company developing next-generation seeds, entered into a $45m loan and security agreement with K2 HealthVentures (K2HV), a life sciences-focused investment firm.
The funds complement Inari’s recent $89m equity raise.
The company intends to use the capital to accelerate the development and commercialization of gene-edited crops.
Led by Ponsi Trivisvavet, chief executive officer, Inari uses genetic technologies and data science to develop next-generation seeds that reduce the natural resources required to grow food.
The company was founded by Flagship Pioneering in 2016 and is headquartered in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium.