RF Biocidics Closes $10M Funding Round
RF Biocidics, Inc., a California-based manufacturer of chemical-free treatment equipment and systems designed to eliminate food related pathogens, pests, and fungi, closed a $10m round of funding.
Investors include Allied Minds, Inc. and Invesco Asset Management Ltd.
The company intends to use the funds to accelerate product development and advance its proprietary pasteurization and disinfestation businesses. RF Biocidics’ systems are also leased to customers for on-site use in their own facilities.
As stated by Dr. Fortunato Villamagna, the company’s Vice President and General Manager, RF Biocidics’ equipment leasing business recently secured contracts for the installation of three additional agricultural commodity treatment systems in the United States and Asia.