Monday, July 22, 2024
HomeFunding CA-based BioConsortia, Inc. Secures $15Million in Internal Round Funding

[Funding alert] CA-based BioConsortia, Inc. Secures $15Million in Internal Round Funding

BioConsortia, Inc., a agricultural technology company secures $15million in internal round funding. Otter Capital, an existing investor, led the round.

BioConsortia, Inc., a agricultural technology company secures $15million in internal round funding. Otter Capital, an existing investor, led the round.

Under the leadership of CEO Marcus Meadows-Smith, BioConsortia grows, creates, and licences cutting-edge microbial solutions to lessen agriculture’s negative environmental effects while maintaining crop output.

The company’s pipeline includes products for post-harvest pathogen control to protect food waste in the distribution chain, retail store, and home; nitrogen fixation microbes to replace or reduce synthetic nitrogen fertilisers; biostimulants and nutrient use efficiency to increase crop yields; and bionematicides & biofungicides to protect crops from pests and diseases.

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The company plans to utilise the money to expand its intellectual property portfolio and develop microbial products that fix nitrogen in crops or manage pests like nematodes, fungi, and soil insects. The increase will go towards expanding field trial initiatives in important global agriculture areas.

As its biofungicide, bionematicide, postharvest decay control, and nitrogen-fixing products approach commercialization starting in 2024, BioConsortia will also use the proceeds to upgrade fermentation and formulation capabilities at the Davis headquarters and expand their lab in Davis, California, to accommodate their expanding microbial gene-editing team.

About BioConsortia, Inc.

BioConsortia, Inc. is creating enhance plant phenotypes and boost crop yields. They are at the forefront of the application of directed selection to find microbial teams; analogous to plant breeders, they pick plants based on desired traits and subsequently isolate the microbial community that is associated with those plants.

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