Boost Biomes has announced a $2 million extension to its Series A funding round with Japanese investment company Universal Materials Incubator (UMI).
Boost, a food and agriculture biotech start-up, has a proprietary microbiome technology platform which the company says enables it an advanced understanding of microbial interactions.
California-based Boost uses its technology to develop microbial products addressing food and agriculture needs, such as increasing crop yields, and improving food shelf life and safety.
The company announced the first close of its Series A round and a joint development agreement with Yara International – which led the investment – earlier this year.
The new funding is expected to enable Boost to further develop its technology platform and generate new products in areas such as crop protection and nutrition, and soil health.
“We believe that Boost’s platform generates a unique data set that can be exploited for far superior products with many diverse microbiome applications in food and agriculture,” said UMI venture capitalists, Yota Hayama and Hiroaki Goto.
“These are critical areas to achieve food security and promote sustainable agriculture. We also expect Boost’s huge potential on other areas where microbiomes are utilised.”
Boost Biomes CEO and co-founder, Jamie Bacher, added: “Boost’s platform technology is hard at work. We are developing an exciting portfolio of advanced microbial products for use in food production and after harvest.
“We’ll look for opportunities to work with strategic or distribution partners to develop and commercialise these novel products. Working with UMI to advance these opportunities in Japan and the region will be a huge advantage for Boost.”
© FoodBev Media Ltd 2021
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