August 21, 2015

Biotech animal nutrition company, Agrivida, has closed on a $23 million Series D round of fundraising led by Cultivan Sandbox Ventures. Other investors involved in the round include ARCH Venture Partners, Middleland Capital, an affiliate of Maschoff Family Foods, and existing investors Kleiner Perkins Caufield & Byers, DAG Ventures, Bright Capital Partners, Gentry Venture Partners, Northgate Capital, Prairie Gold and private investors.

The funds from this round, which closed oversubscribed and exceeding its original target of $20 million, will be used by Massachusetts-based Agrivida to support and advance the development of the company’s animal nutrition feed additives designed to improve the digestibility and efficacy of feed for livestock, poultry and other animals.  The company will also use the funds to develop strategic commercial partnerships in support of the upcoming commercialization of its proprietary GraINzyme feed additive enzymes and its Inergy silage platforms.

"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,"said Ron Meeusen, managing director of Cultivian Sandbox.  "Agrivida holds the potential to disrupt this lucrative and growing feed enzyme market."