Avelis Biotech Raises $250K
Avelis Biotech, an Illinois based green biotechnology company, has raised an initial $250k in funding from a private investor.
Led by Dr. Justin Cannock, President and CSO, the company has developed technologies that provide organic formulations representing real solutions to global food and water crises for which there is currently no applicable synthetic or organic product.
Avelis intends to use the funding to continue expansion of its intellectual property portfolio, and to commercialize technologies in key growth markets. It has identified three vertical markets for immediate distribution of its products: soil remediation; water remediation; livestock feed economizer.
The company, whose mature R&D portfolio includes lab and field trials, third-party university and government validation, sourcing and scalability, is already shipping product to early clients.
Avelis has operations in Illinois, Louisiana, and Arizona.