MicroGen Biotech, a Carlow, Ireland-based provider of a solution to reduce heavy metal in food, increase soil health to enhance crop yields and clean soil pollution in industrial sites, raised $3.8m in series A funding.
The round was led by Fulcrum Global Capital with participation from The Yield Lab Europe. Bill Buckner, former CEO of Bayer CropScience USA joins MicroGen’s advisory board.
The company intends to use the funds to expand across North America and Europe, strengthen the team, expand production, and invest in new technology and product development.
Founded in 2012 at Carlow Institute of Technology, Ireland, by Dr. Xuemei Germaine, a molecular biologist, MicroGen has developed microbiome technology that blocks the uptake of heavy metals by crops (rice, wheat, cocoa, and leafy greens) to improve food safety. The company, which has a subsidiary company in Shandong Province, China, has registered two products with the Chinese Ministry of Agriculture following extensive field trials, covering 20,000 acres, and is rolling out its products nationwide.