Arcadia Biosciences raises $33m in Mandala-led Series D


agri_field_170sqAgricultural biotech startup Arcadia Biosciences has secured $33m in a Series D investment round led by venture capital firm Mandala Capital.

Existing backers including CMEA Capital, BASF Venture Capital and Saints Capital also participated in the round by investing $3m with the rest provided by Mandala.

The Series D has bought the Davis, California-based company’s fundraising total to $101m.

Arcadia said it will use the proceeds to accelerate the development and commercial launch of products based on its company’s agronomic performance and product quality trait technologies.

The company recently hit performance and commercial development milestones by technology licensees in multiple crops and is currently developing core data for regulatory submissions.

Mandala Capital managing director Uday Garg said, “Our investment benefits from exposure to Arcadia’s highly developed, global seed technology platform that touches every major agricultural economy.

“We are particularly excited about the products in advanced development at Arcadia that address the acute need for crops with traits of water and nitrogen use efficiency, and abiotic stress including drought tolerance in our fund’s target market, India.”

One of Arcadia’s investors, CMEA, recently participated in a $15.5m round for drug delivery developer Neos.

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