Arcadia snags $15M for heartier Safflower Oil
Arcadia Biosciences, a company that engineers crops for agricultural efficiency and human health qualities, raked in $15 million in a second round of funding led by Exeter Life Sciences and including BASF Venture Capital America, CMEA Ventures and Saints Capital.
The money will go toward the launch of the Davis, Calif.-based company’s first product, GLA Safflower Oil, modified to have high gamma linolenic acid content and make food it’s used in more hearty and healthy. The substance is expected to go commercial by the end of the year in partnership with Bioriginal Food and Science — a company that sells nutrition supplements. In the past, Arcadia has similarly infused canola oil and rice and has designed corn and wheat plants that require less nitrogen fertilizer to thrive.
The company raised $30 million before this recent round. An additional $10 million came from its purchase of agricultural firm Anawah in 2005.
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About the Author, Camille Ricketts
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