Agrivida, a company that develops biotechnologies for agricultural and industrial processing, said that it has raised $15 million as part of a Series C financing.
Bright Capital Partners led the round. Other Series C investors include Kleiner Perkins Caufield & Byers, DAG Ventures, Prairie Gold, Presidio, Gentry Venture Partners, Northgate Capital, Alexandria Real Estate Equities, and Syngenta Ventures
Agrivida is developing proprietary crops and processes to transform the economics of producing renewable chemicals, fuels, and bioproducts from non-food cellulosic biomass. The company’s patented approach is designed to provide an integrated solution for delivering the lowest-cost sugars that are essential for industrial bioproducts. The basis of Agrivida’s integrated solution is engineering the feedstock to contain cell wall-degrading enzymes, and other valuable traits, which are activated following harvest.
Agrivida plans to commercialize its platform through alliances across the bioindustrial product supply chain. The company is funded by leading venture capital firms, including Kleiner Perkins Caufield & Byers, Prairie Gold Ventures, DAG Ventures, Presidio Ventures, NorthGate Capital, and incTank Ventures, and its programs are supported by grants awarded by the National Science Foundation, the U.S. Department of Energy, including an ARPA-E grant, and U.S. Department of Agriculture.
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