BioConsortia Secures $15 million in Latest Funding Round
BioConsortia CEO Marcus Meadows-Smith says the company has validated the impact of its nitrogen-fixing seed treatments through hundreds of field trials across a wide array of crops.
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, has 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.
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