BioConsortia, Inc., a Davis, CA-based agricultural technology company, closed a $15m internal financing round.
Existing investor Otter Capital led the round.
Led by Marcus Meadows-Smith, CEO, BioConsortia discovers, designs and licenses advanced microbial products to reduce the ecological impacts of agriculture while ensuring crop productivity. The company’s pipeline includes nitrogen fixation microbes to replace or reduce synthetic nitrogen fertilizers; nutrient use efficiency and biostimulants to increase crop yields; bionematicides & biofungicides to protect crops from pests and diseases; and products for post-harvest pathogen control to safeguard food waste in the distribution chain, retail store and home.
The company intends to use the funds for development of microbial products designed to increase crop yields by fixing nitrogen or controlling nematode, fungal and soil insect pests, and for expansion of its intellectual property estate. The raise will fund broadened field trial programs in key agricultural regions around the world.
BioConsortia will also use the proceeds to enlarge their Davis, CA, lab to accommodate their growing microbial gene-editing team, as well as to upgrade fermentation and formulation capabilities at the Davis headquarters, as its biofungicide, bionematicide, postharvest decay control and nitrogen-fixing products approach commercialization beginning in 2024.
FinSMEs
01/04/2024