Agrivida raises $12m to support new feed enzyme
US enzyme solutions company Agrivida, has raised US$12 million as part of a Series D financing to advance the development and commercialisation of its proprietary GraINzyme feed additive enzymes and INergy silage technology platforms.
Cultivian Sandbox Ventures led the round. An affiliate of Maschhoff Family Foods, Middleland Capital and Sontag Family Trust joined as new Series D investors while Kleiner Perkins Caufield & Byers, DAG Ventures, Bright Capital Partners, Gentry Venture Partners, Northgate Capital and PrairieGold Venture Partners also participated.
“The commitment and confidence of our investors will help us advance our animal nutrition strategy,” Agrivida chief executive officer Dan Meagher said. “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 global demand for food. In a short period of time, we have developed commercial partnership interest in our proprietary GraINzyme and INergy technology platforms, confirming our vision and focus are on target.”
The company’s GraINzyme additives are said to have a high level of enzyme activity after pelleting compared to fermented enzymes and are used to degrade anti-nutritional feed components.
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