BioLumic, a New York-based agricultural technology company, raised $13.5M in Series B funding.
The round was led by OurCrowd with participation from Finistere Ventures, Icehouse Ventures, Rabo Ventures, Entourage Effect Capital, Arcview Ventures Seed Fund, Flatiron Venture Partners, RIV Capital, Virtu Capital, Bravos Capital, Privthi, NZ Booster Fund, Norwind Capital, MIG Nominee No 1 Limited, Aspire NZ Seed Fund.
The company intends to use the funds to accelerate commercial growth for its patented agricultural technology that leverages ultraviolet light to improve plant productivity. BioLumic will market its technology, focusing specifically on cannabis, soybean, corn, canola and strawberry. With cannabis, the company plans to deepen relationships with cultivation leaders and technology partners, while adding to a growing library of Light Signal Recipes that have already triggered large, combined gains in dry flower yield, THC concentration, minor cannabinoids and terpenes. Funding will also be used to advance a new generation of Light Signal Recipes focused on photosynthetic and nutrient use efficiency.
Founded in 2013 and led by CEO Steve Sibulkin, BioLumic is an agricultural technology company whose Light Signal Platform and proprietary UV treatment systems improve the performance of key plant traits using short-duration UV treatments for both seedlings and seeds. These treatments provide the plants with several important and long-term benefits, including improved crop consistency, increased yield and stronger disease resistance.
BioLumic’s Light Signal Recipe™ platform uses proprietary knowledge of how UV light influences plant biology and genetics, data science, and patented treatment technology. Without adding chemicals or genetic engineering, the platform empowers agricultural, horticultural and cannabis growers to improve overall plant health, quality and yield.
The company has offices in the United States and New Zealand.
FinSMEs
27/06/2022