DAVIS, Calif.--(BUSINESS WIRE)--BioConsortia, Inc., innovator of microbial solutions for natural plant
trait enhancement and crop yield improvement, announced that it has
raised this year a total of $12 million for future growth. Last week,
BioConsortia closed an $8 million equity round of investment financed by
existing investors, Khosla Ventures and Otter Capital, and earlier in
the year raised $4 million of venture debt from Square 1 Bank, a
division of Pacific Western Bank.
Experienced ag tech investors, Khosla Ventures and Otter Capital funded
BioConsortia’s $15 million Series B round in early 2014, enabling the
move from New Zealand to the US, and establishing operations and
headquarters in Davis, California. This move refocused the research on
US microbes, seed genetics, more sustainable fertilizers and improved
“We are thrilled with the commitment and support from our existing
investors and Square 1 Bank. This is a busy time of year for all in the
ag space with field trial data coming in. Having funding in place early
means that we can keep our foot on the accelerator and continue to
expand our research capabilities, field trials program and the number of
beneficial traits that we are moving down our pipeline,” says
BioConsortia CEO, Marcus Meadows-Smith.
BioConsortia continues to exploit its revolutionary Advanced Microbial
Selection® (AMS) process to discover advantageous microbial consortia
treatments for biofertilizers and biostimulants. Recently the company
launched several biopesticide projects to identify crucial microbial
solutions to combat seed and soil-borne diseases and pests.
Following the addition of Dr. Hong Zhu from Bayer CropScience earlier
this year, the company is also further expanding its formulation and
fermentation team to work on products that meet the best standards for
seed and soil-applied solutions. Construction on new lab space at the
current R&D facilities is underway.
Building on 2016 field trials, BioConsortia will increase its program
for 2017. Next year’s trials will include important traits for drought
tolerance and fertilizer use efficiency on corn, soy, and wheat, as well
as biopesticide trials for management of soil-borne diseases in select
high-value vegetable crops and pests such as corn rootworm.
BioConsortia, Inc. is developing effective microbial solutions that
enhance plant phenotypes and increase crop yields. We are pioneering the
use of directed selection in identifying teams of microbes - working
like plant breeders and selecting plants based on targeted
characteristics, then isolating the associated microbial
community. Our proprietary Advanced Microbial Selection® (AMS) process
enriches the crop microbiome, allowing us to identify organisms that
influence the expression of beneficial traits in plants. We
are currently focused on products for fertilizer use efficiency, growth
improvement and both abiotic tolerance and biotic resistance, as
commercial seed treatments, liquid in-furrow products and granule
products for a range of crops.