Charlottesville-based maker of indoor farming systems moving headquarters to Richmond, adding 24 jobs
A Charlottesville-based startup company that makes indoor, hydroponic farming systems is moving its headquarters to Richmond with plans to hire about 24 people over the next few years.
Late in 2019, Babylon Micro-Farms raised $2.3 million in funding mostly from investors, but the capital raise also included a $250,000 grant from the National Science Foundation to conduct research on its systems, along with a $50,000 grant from Virginia’s Center for Innovative Technology.
Northam’s office said Virginia competed with Arizona and California for the headquarters office relocation project.
Babylon Micro-Farms is a CIT GAP Funds Portfolio Company and a CIT Commonwealth Research Commercialization Fund (CRCF) Awardee FY20 | The Babylon CRCF award, along with CIT GAP funding, is a prime example of how our programs work together to help sustain companies through the difficult first stages of the commercialization process. Sustainable urban agriculture technologies are among the most critical emerging technologies in the nation today, and thanks to Babylon, Virginia will play an essential role in the future of farming.
CIT Press 2020-2021