Babylon Micro-Farms raises US$8 million in Series A round

According to a press release, Virginia-based Babylon Micro-Farms has secured US$8 million in a Series A funding round. The round is led by Venture South with participation from Virginia Venture Partners, Hull Street Capital, and New Theory Ventures, among others.

“This investment gives us the resources we need to execute our growth plans serving a range of businesses and communities across North America. We have a fantastic team in place who’s worked tirelessly to get the company to where it is today, and it’s great to see strong investor support for our fully distributed approach to vertical farming in a tough macro-economic environment,” said Alexander Olesen, CEO & Co-Founder of Babylon Micro-Farms “We are demonstrating that growing food on-site is a powerful tool for foodservice operations to source high-quality, fresh ingredients while educating and inspiring their communities to eat healthy food”.

“VentureSouth is excited to lead Babylon’s Series A. VentureSouth members from Virginia and across the southeast are excited to continue working with the Babylon team as they accelerate their growth across the USA … when dynamic companies impress active investors, capital can be deployed to execute ambitious plans," said Paul Clark, Managing Director of Venture South.

Bablyon also was awarded a US$500,000 grant from the National Science Foundation.