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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