US-based life science technology developer Invaio Sciences has raised $88.9m for the close of a series C round featuring Alexandria Venture Investments, an investment vehicle for life sciences real estate investment trust Alexandria Real Estate Equities.
Venture capital firm Flagship Pioneering led the round with participation from Stage 1 Ventures and Bluwave Capital.
Founded by Flagship Pioneering in 2018, Invaio Sciences is developing technology and services to address critical issues in agriculture, nutrition and the environment. The company aims to reduce the use of pesticides globally by capitalising on its knowledge and experience of the physiology of insects and ecosystems.
Invaio Sciences’ core technology involves modulating the health of multiple types of insects by targeting the insects’ nutritional function organ.
The company will use the funding to continue its research in areas such as tree nutritional health, insect management, vector and disease control, transformative herbicides and fungicide replacements.
The capital injection will also support the launch of Invaio Sciences’ solutions for HLB, a bacterial disease that affects the health of citrus trees, and Xylella, a bacterial disease that is fatal to olive trees.
With the close of the series C round, Invaio Sciences has raised over $142m to date.