June 29, 2021

Tech startup Babylon Micro-Farms harvests $4M for market expansion

Source: Richmond BizSense

Shortly after it put down roots in Richmond, a micro-farm startup is cultivating a nationwide expansion with recently secured funding.

Babylon Micro-Farms, a Scott’s Addition-based company that builds remote-controlled indoor hydroponic farming software and hardware, snagged $4 million in grant and investment funding in recent weeks.

The National Science Foundation awarded Babylon a $1 million grant for continued development of BabylonIQ, the software program used to operate the company’s micro-farms.

Babylon announced it received the grant in May, shortly after the company closed on a $3 million capital raise earlier in the spring.

The grant comes with the possibility of another $750,000 from the foundation and follows an allocation of $225,000 in 2019.

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