Maker of hydroponic farming systems gets $1 million grant, relocates headquarters to Scott’s Addition | Business News


A startup corporation that can make indoor, hydroponic farming methods has opened its new headquarters and production internet site in the Scott’s Addition region of Richmond.

The opening of the Babylon Micro-Farms Inc. place of work will come just after the organization gained a $1 million grant from the Nationwide Science Foundation with the possible for $750,000 in follow-on funding to keep on improvement of BabylonIQ, its technology platform built to run decentralized, automated micro-farms.

The grant will enable the organization transfer even further into commercialization. The company experienced been awarded a $225,000 Period 1 grant in 2019 to carry out scientific trials of its technological innovation.

Babylon Micro-Farms also accomplished a $3 million investment decision round in the to start with quarter of this yr. Buyers contain Virginia’s Centre for Impressive Engineering, Hull Road Cash, Undertaking South, and the CAV Angels Group.

The funds elevated “helped us transfer listed here [to Richmond] and create our group,” Alexander Oleson, the company’s CEO who co-launched the organization with Graham Smith, mentioned Thursday as Babylon Micro-Farms hosted an open property at the headquarters.

“A large amount of it is about switching from an R&D corporation to a profits organization,” Oleson said. “We have a backlog of orders to fill.”

Babylon Micro-Farms was founded in Charlottesville in 2017 by Oleson and Smith, who were being College of Virginia college students. The firm introduced options to go its headquarters to Richmond earlier this yr.



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