Biotechnology in Agriculture: BioConsortia Yields $15M
April 08, 2014
BioConsortia, an agricultural biotech company, has raised an additional $15 million in Series B funding from Khosla Ventures and Otter Capital. The company has developed a system that uses accelerated microbial selection and genomic techniques to define products for specific crop improvement traits based on an optimum community of microbes, or consortia, that work together to increase crop yields with no genetic modification required.
The capital will accelerate BioConsortia's plans to commercialize the use of microbial consortia as seed treatments and soil additives. In addition to product development and commercialization, the company will use the funds to invest in the necessary resources to build collaborative partnerships with seed, fertilizer and crop production companies.