BioConsortia, Inc., a Davis, California-based developer of microbial solutions for natural plant trait enhancement and crop yield improvement, raised $12m in funding.
– an $8m equity round from existing investors, Khosla Ventures and Otter Capital closed last week; and
– a $4m venture debt raised earlier in the year from Square 1 Bank, a division of Pacific Western Bank.
The company intends to use the funds to expand its research capabilities and field trials program.
Led by CEO Marcus Meadows-Smith, BioConsortia leverages its proprietary Advanced Microbial Selection® (AMS) process to develop effective microbial solutions that enhance plant phenotypes and increase crop yields. The company is pioneering the use of directed selection in identifying teams of microbes – working like plant breeders and selecting plants based on targeted characteristics, then isolating the associated microbial community.
BioConsortia recently launched several biopesticide projects to identify crucial microbial solutions to combat seed and soil-borne diseases and pests.