Arcadia Biosciences Raises $15M

Davis-based Arcadia Biosciences, a firm which is developing biotechnology driven agricultural products, said Tuesday that the firm has raised $15M in financing. According to the firm, the new funding was led by Exeter Life Sciences, along with investors CMEA Ventures, BASF Venture Capital America Inc., and Saints Capital. Arcadia Biosciences is creating crops, including canola, corn, wheat, rice, cotton, sugar beets, sugarcane, and turf grass, which more efficiently use nitrogen, water, or are salt tolerant; the firm also has developed a safflower plant with high levels of gamma linolenic acid (GLA), an Omega-6 fatty acid, which has been shown to deliver a number of health benefits. The firm said the funding will go to complete and launch its safflower oil, along with other new technology. More information »