A startup company that makes indoor, hydroponic farming systems has opened its new headquarters and production site in Scott’s Addition area of Richmond.
The opening of the Babylon Micro-Farms Inc. office comes after the company received a $1 million grant from the National Science Foundation with the potential for $750,000 in follow-on funding to continue the development of BabylonIQ, its technology platform designed to operate decentralized, automated micro-farms.
The grant will help the company move further into commercialization. The company had been awarded a $225,000 Phase 1 grant in 2019 to conduct scientific trials of its technology.
Babylon Micro-Farms also completed a $3 million investment round in the first quarter of this year. Investors include Virginia’s Center for Innovative Technology, Hull Street Capital, Venture South, and the CAV Angels Group.