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.