News
News | 1 min read
Babylon MicroFarms closes $3m seed round
March 12, 2021
Virginia-based Babylon MicroFarms announced this week it has closed a $3 million round of seed funding to expand its controlled-environment farming business. The round was led by previous investors including the Center for Innovative Technology, and also included participation from new investors Hull Street Capital, Venture South, and the CAV Angels Group.
The round comes on the heels of the company’s recent move to Richmond, Virginia, where the business will now be headquartered. Babylon MicroFarms was previously based in Charlottesville, Virginia, where it was originally started as a University of Virginia project in 2016.
Over time, the company has evolved from producing table-top farming units to fully controlled grow systems it licenses out to foodservice businesses such as cafeterias in hospitals and senior living facilities. The controlled-environment farming units grow a variety of leafy greens and some flowers. Babylon Microfarms remotely monitors the hydroponic system so that foodservice operations need only harvest their crops when the plants are ready.
Read the full story here.
- Topics:
- Uncategorized
