BioConsortia secures $15 million in latest funding round
BioConsortia, Inc., a leading agricultural technology company that discovers, designs and licenses advanced microbial products to reduce the ecological impacts of agriculture while ensuring crop productivity, today announced that the Company has closed an internal financing round that will fund expanded development of microbial products designed to increase crop yields by fixing nitrogen or controlling nematode, fungal and soil insect pests. Existing investor Otter Capital led the round, excited by progress shown in recent field trial results, as well as new discoveries that further enhance BioConsortia's microbial gene-editing leadership position.
According to Marcus Meadows-Smith, BioConsortia CEO, "We have validated the consistency and impact of our nitrogen-fixing seed treatments through hundreds of field trials across a wide array of crops in recent years. This announced investment underlines our confidence that these technologies, with their extended shelf- and on-seed life, set a new standard for nitrogen-fixation products."
The raise will fund broadened field trial programs in key agricultural regions around the world. With recent discoveries that further BioConsortia's leadership in microbial gene-editing, the Company will also invest in expanding its intellectual property estate.
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 the Company's biofungicide, bionematicide, postharvest decay control and nitrogen-fixing products approach commercialization beginning in 2024.
ABOUT BIOCONSORTIA
BioConsortia, Inc. develops superior microbial products that protect plants, enhance fertility, and increase yields while improving the sustainability of agriculture for our environment. Pioneering the use of directed selection within microbial communities, our patented Advanced Microbial Selection (AMS) process and cutting-edge GenePro genomics and gene-engineering platform enable us to predict, design, and unleash the natural power of microbes.
BioConsortia's microbial products deliver superior efficacy, higher consistency, and easier grower adoption. The Company's rich 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. BioConsortia is producing breakthrough solutions for growers in major agricultural markets with multiple environmental benefits.
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