Agrivida Closes $23 Million In Oversubscribed Series D Funding

Aug 18, 2015, 11:00 ET from Agrivida, Inc.

MEDFORD, Mass., Aug. 18, 2015 /PRNewswire/ -- Agrivida, Inc., an innovative technology company focused on animal nutrition, announced today that it has completed a $23 million Series D financing to advance the development and commercialization of its proprietary GraINzyme® feed additive enzymes and INergy silage technology platforms. Cultivian Sandbox Ventures led the round and was joined in the investment group by an affiliate of Maschhoff Family Foods, ARCH Venture Partners, Middleland Capital and existing investors Kleiner Perkins Caufield & Byers, DAG Ventures, Bright Capital Partners, Gentry Venture Partners, Northgate Capital, Prairie Gold and private investors.

"We are excited to have this group of investors who are committed to our animal nutrition strategy and technology that will deliver unique enzyme solutions," said Dan Meagher, CEO of Agrivida. "By using the corn plant as our factory combined with our proprietary technology, we aim to create a compelling value proposition to the producers of meat, milk and eggs to help address the growing global demand for food." 

"Agrivida products offer dramatically improved cost performance while simplifying production, slashing capital expenditure requirements and reducing the carbon footprint of fermentation produced enzymes," added Ron Meeusen, managing director of Cultivian Sandbox. "Agrivida holds the potential to disrupt this lucrative and growing feed enzyme market."

With this financing, Agrivida will further expand its capabilities, expertise and leadership team; advance its regulatory and product development; and focus on developing strategic commercial partnerships based on its proprietary GraINzyme® and INergyTM technology platforms. The funding will further support commercialization of its first products targeted for 2016.

About Agrivida       

Agrivida, Inc., headquartered in Medford, Mass., is the global commercial leader in developing integrated enzyme solutions for the animal nutrition and health, energy and consumer products industries. The company has entered into research and development agreements with the U.S. Department of Energy (DOE), ARPA–E, the USDA, and other partner companies. With expertise in protein engineering, molecular biology, plant biotechnology, agronomy, and chemical engineering, Agrivida is developing innovative, sustainable crops and processes to meet demands for global food, consumer products and energy needs while protecting the environment. Additional information on the company can be found at www.Agrivida.com.

CONTACT: Dan Meagher--CEO, Agrivida Inc.  781-391-1262, x16
Email:  
pr@agrivida.com

 

SOURCE Agrivida, Inc.



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