Arcadia Biosciences, a US-based agricultural biotechnology company focused on developing technologies and products that benefit the environment and human health, has closed a $33m series D round that saw reinvestment from BASF Venture Capital, the corporate venturing unit of chemical producer BASF.
Mandala Capital, a dedicated agriculture business private equity fund, led the funding round, which also featured nine existing investors including BASF, CMEA Capital and Saints Capital. It brings Arcadia’s funding to date to about $101m.
Eric Rey president and chief executive of Arcadia, said: “Multiple products based on Arcadia’s agronomic performance and product quality traits are currently in late-stage commercial development and our SONOVA 400GLA Safflower Oil is already on the market.”
Arcadia Biosciences was founded in 2002 to develop agriculture-based nutrition and health products. It plans to use the funding to accelerate the development and commercial launch of products.