Agrivida Raises $15.2M in Share Offering
Agrivida Inc., which is developing proprietary crops to make renewable chemicals and energy, has raised $15.16 million, or 60 percent of a $25 million share offering, from nine investors, according to an SEC filing.
Principals named in the filing by the Medford-based firm are:
· CEO Mark Wong;
· Co-founder and President R. Michael Raab; and
· Co-founder and Vice President Jeremy Johnson.
Also named in the filing were the following directors:
· David Summa of San Francisco-based Technology Pathfinders;
· Paul Batcheller of PrairieGold Venture Partners, Sioux Falls, S.D.;
· Edward Shonsey, CEO of L1 AgroSciences Inc.;
· Greg Williams of San Francisco-based Duff, Ackerman, and Goodrich Ventures;
· Jim Barber, former CEO of Cambridge-based Metabolix Inc.; and
· Mikhail Chuchkevich of Moscow-based Bright Capital LLC
With a patented approach, Agrivida plans to transform the economics of producing renewable energy and chemicals from non-food cellulosic biomass.
Other investors in Agrivida include Menlo Park, Calif.-based Kleiner Perkins Caufield & Byers; Santa Clara, Calif.-based Presidio Ventures; Danville, Calif.-based NorthGate Capital; and Cambridge-based incTank Ventures. It is also supported by grants from the National Science Foundation, the U.S. Department of Energy and the U.S. Department of Agriculture.
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