{"id":2995,"date":"2023-04-04T17:34:39","date_gmt":"2023-04-04T17:34:39","guid":{"rendered":"https:\/\/babylonmicrofarms.com\/?p=2995"},"modified":"2023-04-12T19:12:40","modified_gmt":"2023-04-12T19:12:40","slug":"babylon-micro-farms-raises-8-million-in-series-a","status":"publish","type":"post","link":"https:\/\/babylonmicrofarms.com\/babylon-micro-farms-raises-8-million-in-series-a\/","title":{"rendered":"Babylon Micro-Farms Raises $8 Million In Series A"},"content":{"rendered":"\n\n\n[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/babylonmicrofarms.com\/wp-content\/uploads\/2022\/05\/Ladies-at-farm-with-wine-lb-web-2.jpg” title_text=”Ladies at farm with wine lb web 2″ _builder_version=”4.20.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]
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Babylon Raises $8M in Series A Funding<\/h3>\n

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Richmond, VA April 3, 2023<\/b> –
Babylon Micro-Farms Inc., a leader in on-site vertical farming solutions, has closed an $8M Series A led by Venture South with participation from Virginia Venture Partners, Hull Street Capital, and New Theory Ventures, among others. Additionally, the company was also awarded a $500,000 grant from the National Science Foundation. The funding will support Babylon\u2019s growth and help new businesses and communities to grow their own food in a reliable, safe, and convenient way using Babylon\u2019s remotely managed vertical farms.\u00a0<\/span><\/p>\n

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\u201cThis investment gives us the resources we need to execute our growth plans serving a range of businesses and communities across North America. We have a fantastic team in place who\u2019s worked tirelessly to get the company to where it is today, and it\u2019s great to see strong investor support for our fully distributed approach to vertical farming in a tough macro-economic environment,\u201d said Alexander Olesen, CEO & Co-Founder of Babylon Micro-Farms \u201cWe are demonstrating that growing food on-site is a powerful tool for foodservice operations to source high-quality, fresh ingredients while educating and inspiring their communities to eat healthy food\u201d.<\/span><\/p>\n

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Paul Clark, Managing Director of Venture South, said: \u201cVentureSouth is excited to lead Babylon\u2019s Series A. VentureSouth members from Virginia and across the southeast are excited to continue working with the Babylon team as they accelerate their growth across the US\u2026when dynamic companies impress active investors, capital can be deployed to execute ambitious plans.\u201d<\/span><\/p>\n

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In 2022, Babylon launched the Galleri Micro-Farm which has accelerated adoption with clients ranging from MSC cruise lines to retailers like IKEA, Neiman Marcus, and major food service management clients like Aramark. They currently operate well over 150 locations within the healthcare, education, and corporate dining sectors. This funding will allow them to expand their go-to-market efforts and support their growing client base in the US and internationally.<\/span><\/p>\n

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Babylon was recently awarded Emerging Technology Startup of the Year at the 2022 RVA Tech Awards. Co-founders Alexander Olesen and Graham Smith were listed on Forbes 30 Under 30 for Social Impact. The company\u2019s work was featured in the award-winning <\/span>Made in Virginia documentary<\/span><\/a>.<\/span><\/p>\n

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Company Overview: <\/b>Founded in 2017, Babylon\u2019s indoor farming service enables businesses and communities to safely grow their own ultra-fresh, sustainable produce. Its proprietary BabylonIQ software platform remotely manages the network of modular vertical farming systems. The data collection capabilities enhance the experience by tracking production and measuring efficacy. The service includes semi-automated vertical farms, software, and supplies wrapped into a flat monthly fee.\u00a0<\/span><\/p>\n

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