Babylon raises $8M for its self-contained vertical farming system
Reading Time: 2 minutesPersonal vertical farms — that’s the big promise driving Babylon Micro-Farms. The Richmond, Virginia-based startup produces the Galleri, a large $15,000 wall appliance designed to grow more than 50 different plant varieties for on-site harvest. The system is obviously price-prohibitive for most individuals at the moment; accordingly, the company is currently focused on food service for verticals like healthcare, education and the corporate world. Anyone who has a desire for hyper-local produce (and a nice visual to boot).
Today Babylon is announcing an $8 million Series A, led by Venture South. The round, which also features Virginia Venture Partners, Hull Street Capital and New Theory Ventures, follows a $3 million seed announced almost exactly two years ago. It arrives as the startup is also announcing $500,000 National Science Foundation grant.
‘We have designed the BabylonIQ platform to manage a distributed fleet of vertical farms at scale,’ says Olesen. ‘The proprietary platform we’ve developed automatically controls growing conditions, scheduling planting/harvesting and reordering supplies while we are able to conduct real-time analysis of plant health and predictive maintenance on our fleet. This ensures healthy crops and happy customers at scale. This is a key technological innovation that needed to happen in order to make modular growing systems successful.’
While the systems are self-contained, the modularity in question refers to their ability to be linked together in a single location. On its own, one system is capable of producing up to 24 pounds of leafy greens a month. Given the produce pricing, however, microgreens offer users a much stronger return on investment potential buyers balking at the price tag.
For those who don’t want to buy a system outright, Babylon also offers a hardware-as-a-service subscription pricing option.
Ref: techcrunch
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