Agrivida Inc., an technology company focused on animal nutrition, announced Aug. 18 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," Agrivida chief executive officer Dan Meagher said. "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."
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 INergy technology platforms. The funding will further support commercialization of its first products targeted for 2016.