Jan 30 (Reuters) - Agritech startup Inari Agriculture said on Tuesday it raised $103 million in its latest funding round, notching up a valuation of $1.65 billion.
The latest round of equity financing was led by its existing investors Hanwha Impact, Canada Pension Plan Investment Board (CPPIB), Rivas Capital, NGS Super, State of Michigan Retirement System and its founder Flagship Pioneering, Inari said.
The new investor RCM Private Markets fund, an affiliate of Rokos Capital Management, also participated in the round, which has brought the company's total equity capital raise to more than $575 million.
The Cambridge, Massachusetts-based startup uses technology to develop high-yield seeds, which require less water, land and fertilizer.
"These investments represent further external validation of Inari's innovative technology and confidence in our creation of significant economic and environmental value by delivering our breakthrough, nature-positive products to seed customers," said Inari Chief Executive Officer Ponsi Trivisvavet in a statement.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shweta Agarwal)
