AGRIVIDA RAISES $12 MILLION IN SERIES D FINANCING
MEDFORD, Mass. (January 10, 2015) – Agrivida, Inc., an innovative technology company focused on animal nutrition, announced today that it has raised $12 million as part of a Series D financing to advance the development and commercialization of its proprietary GraINzyme® feed additive enzymes and INergyTM silage technology platforms. Cultivian Sandbox Ventures led the round. An affiliate of Maschhoff Family Foods, Middleland Capital and Sontag Family Trust joined as new Series D investors while Kleiner Perkins Caufield & Byers, DAG Ventures, Bright Capital Partners, Gentry Venture Partners, Northgate Capital and PrairieGold Venture Partners also participated.
“We view Agrivida as a very attractive investment and we like the company, strategy, direction and technology platforms,” said Ron Meeusen, Managing Partner of Cultivian Sandbox Ventures LLC. “We believe in the company’s strategy of delivering unique enzyme solutions that can help improve the economic efficiency of the global food system and industrial products used.”
“The commitment and confidence of our investors will help us advance our animal nutrition strategy,” 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 global demand for food. In a short period of time we have developed commercial partnership interest in our proprietary GraINzyme® and INergyTM technology platforms, confirming our vision and focus are on target.”
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.