Virginia Venture Partners is a family of seed-stage investment funds placing near-equity and equity investments in Virginia-based technology, life science, and cleantech companies. Virginia Venture Partners invests in companies with a high potential for achieving rapid growth and generating significant economic returns for entrepreneurs, co-investors, and the Commonwealth of Virginia. CIT’s family of funds includes: GAP Fund I is a vintage 2004 fund fully invested in a broad array of seed-stage technology companies. Portfolio. GAP BioLife Fund is a seed fund investing exclusively in life science companies. GAP Tech Fund is a seed fund investing in IT and technology companies.

Virginia Venture Partners

Plug and Play is a seed and early-stage investor focused on great teams leading emerging growth companies.  Plug and Play runs 12 industry-specific accelerator programs twice a year, that acts as a platform for major corporations and high quality startups to connect and collaborate.  Located in the heart of Silicon Valley, Plug and Play participates in Seed, Angel and Series A funding where they often co-invest with their strategic partners. Through years of experience and as part of their network, Plug and Play has put together a world-class network of serial entrepreneurs, strategic investors, and industry leaders who actively assist the firm with its successful and growing investment portfolio.  SEED ROUND. Plug and Play participates in seed round investing through a program called Startup Camp. Startup Camp is a 10-week program based in Silicon Valley for top-notch entrepreneurs to work intensively on building out their business model. Select startups will refine their business models and prototypes with help from a combination of structured workshops, speaker series and mentorship sessions, as well as active coaching from their investment team. At the culmination of Startup Camp, founders will have crystalized their business plans and pitched their company to the venture capital community at EXPO Demo Day.''  ANGEL ROUND Plug and Play makes angel round investments throughout the year, sourced from their monthly Plug and Play Angels (PAPA) sessions. They are partnered with local angel investors in Silicon Valley who participate in PAPA to find the most promising startups and best new technologies.  SERIES A. Series A typical Series A round is in the range of $2 million to $10 million, and is intended to provide operating capital for the company for six months to two years. This round capitalizes the company as it develops its products, performs initial marketing and branding, acquires talent, and conducts other early-stage business operations. It is in this stage that Plug and Play will co-invest with over 180 venture capital partners.  Plug and Play has helped grow market leaders such as PayPal, Danger, Google, DropBox, LendingClub, Zoosk, SoundHound, CreditSesame, Skytree, and has over 400 more early-stage startups in its portfolio.

Plug and Play

In 2005, CIT celebrated 20 years of creating technology-based companies and strategies for innovation. From its original mission to enhance the research and technology transfer activities of Virginia universities, CIT has moved its focus toward the new technologies, entrepreneurs and technology companies that make innovation happen.  Today, CITâ€™s operating structure consists of service lines that enable it to respond quickly and efficiently to new opportunities with government and private sector clients. The service lines â€“ CIT Entrepreneur, CIT R&D, CIT Broadband and CIT Connect â€“ establish a clear identity that allows us to meet their goals and close innovation gaps.

Center for Innovative Technology

VentureSouth is an early-stage venture firm that develops and manages angel investment groups and funds throughout the Southeast.  Since our inception with the Upstate Carolina Angel Network in 2008, VentureSouth has grown to include more than 550 investors across a dozen angel groups and funds, making us one of the largest angel investment organizations in the United States. To date, VentureSouth has deployed over $80 million in more than 100 companies.  Follow us to learn how we Make Money. Have Fun. Do Good.

VentureSouth

CAV Angels is an angel investing organization that provides funding and education on investment in private, early-stage companies in the technology and healthcare sector. It accelerates investment by members of the club in early-stage growth companies founded by, owned by, or managed by the University of Virginia alumnus. CAV Angels aim to help advance the economy by investing in entrepreneurs with exponential ideas and to generate attractive financial and non-financial returns to its committed base of investors who help them. It was established in Charlottesville, Virginia in 2015.

CAV Angels

Hull Street Capital is a private equity firm that focuses on manufacturing, business services, and infrastructure financial services. It was established in 2002 by Christopher Meyers and is headquartered in Bethesda, Maryland.

Hull Street Capital

Venture capital fund helping entrepreneurs launch exponential organizations generally with an impact or sustainability element. Passionate about creating positive impact at scale for humanity and the planet. Particular interest in human optimization, healthcare, and strategic interest in automotive and manufacturing technology. Specialties: HealthTech, Healthcare, DeepTech, impact, Startups, Early Stage, seed, Series A, VC, Angel investor, AutoTech, ManufacturingTech, Robotics, IoT, AgTech, connecting the dots.

Harmonix Fund

New Theory Ventures finances women-led transformative beauty and personal care brands.

New Theory Ventures

Babylon Micro-Farms

Babylon Micro-Farms offers a smart, scalable indoor farm tailored to meet the client's needs. At the touch of a button, Babylon delivers a simple yet engaging indoor growing experience. Babylon Micro-Farms is leveraging its remote management technology to develop a complete indoor farming platform that will power a distributed network of micro-farms across North America. They designed a low-cost microfarm to provide nutritious produce for food-insecure refugees in the Middle East. Alexander and Graham were initially inspired by the desire to bring the benefits of sustainable hydroponic farming to those who needed them. They set out to develop technology that would automate the complex aspects of indoor farming and, in doing so, make this transformative method of crop production accessible to anyone.

<div>Babylon Micro-Farms produces 15 square foot container farms and rents them out mostly to foodservice operators (at schools, retirement communities, etc.) so these establishments can offer the freshest foods. The company announced a new Micro-Farm called &ldquo;Galleri&rdquo;<a href="https://sp-edge.com/updates/10788">in May 2022</a>with new features and controls such as improved sensor arrays, new algae mitigation and a water temperature control system. Customers need to sign two-year contracts and pay fixed monthly fees to rent the farms. The company provides installation service and remotely manages these farms on behalf of clients. It also provides the necessary seeds and delivers them to customers every month. The system is suitable to grow leafy greens, herbs &amp; aromatics, and edible flowers.&nbsp;</div>

Bringing fresh produce closer to consumers with efficient, advanced technology.

Vertical Farming

Babylon

Babylon Micro-Farms rolls out vertical farming unit for classrooms

<div>
 
 Babylon Micro-Farms produces 15 square foot container farms and rents them out mostly to foodservice operators (at schools, retirement communities, etc.) so these establishments can offer the freshest foods. The company announced a new Micro-Farm called &ldquo;Galleri&rdquo;
 <a href="https://sp-edge.com/updates/10788">
 in May 2022
 </a>
 with new features and controls such as improved sensor arrays, new algae mitigation and a water temperature control system. Customers need to sign two-year contracts and pay fixed monthly fees to rent the farms. The company provides installation service and remotely manages these farms on behalf of clients. It also provides the necessary seeds and delivers them to customers every month. The system is suitable to grow leafy greens, herbs &amp; aromatics, and edible flowers.&nbsp;
 
 
 
 
 Babylon Micro-Farms will relocate to Richmond and invest USD 140,000 to scale business operations. The new location will allow the company to enhance its capabilities in research and development, software development, and manufacturing to distribute its hydroponic growing systems across the country and to overseas markets. As of April 2023, Babylon has installed over 150 micro-farms (from 80 farms in May 2022) across 40 states and three countries, serving clients in the healthcare, education, and corporate dining sectors. Some of the company&rsquo;s key customers include Aramark, Compass, IKEA, LinkedIn, Neiman Marcus and Sodexo.&nbsp;
 
 
 
 
 In 
 <a href="https://sp-edge.com/updates/15982">
 January 2023
 </a>
 , Babylon Micro-Farms partnered with MSC Cruise Lines' Liquefied Natural Gas (LNG) powered cruise ship MSC World Europa to build a hydroponic farm at sea, which will grow herbs, greens, and garnishes onboard for a new restaurant concept, Chef's Garden Kitchen.
 
 
 
 
 In April 2023, Babylon secured USD 8 million in a 
 <a href="https://sp-edge.com/updates/17494">
 Series A funding
 </a>
 round led by Venture South and a USD 500,000 grant from the National Science Foundation. The funds will be used to increase the production and marketing of its container farms and expand its customer base and geographic presence across the US and internationally. In May 2023, the company also secured
 investment from 
 <a href="https://sp-edge.com/updates/18871">
 Virginia Venture Partners
 </a>
 to continue its nationwide expansion.
 
</div>

Based in Germany, Agrilution produces and sells small container farms (known as Plantcubes) that can be placed inside kitchens. Its growing system is suitable to grow lettuce, microgreens, and herbs. The farm can be controlled via a mobile phone.

Agrilution

Based in Belgium, Urban Crop Solutions produces growing systems inside shipping containers (called PlantFactories). The company also builds custom farms inside buildings (e.g. warehouse, basement). The company's modular " PlantFactories " are deemed ideal for highly urbanized areas, since they take up little space and can be stacked. As of March 2020, it had 28 projects in operation with its main customers located across Europe and in the US.The company launched an e-shop in February 2023 to better support existing and new customers in the day-to-day and long-term operation of their indoor farming businesses. The e-shop offers from seeds and substrates to sensors and container parts.In April 2023, the company appointed <a href="https://sp-edge.com/updates/17741">AlfaTech </a>, an engineering consulting firm, as the integration and service partner for UCS’s products in the Southeast Asian region.

Urban Crop Solutions

<div>
 
 Based in Massachusetts, Crop One Holdings operates hydroponics-based vertical farming that produces herbicide and pesticide-free leafy greens. As of December 2021, the company operates a facility in Millis, Massachusetts, and serves more than 30 stores in the US through its subsidiary—FreshBox Farms, producing greens such as spinach, kale, and romaine as well as a spicy mix, spring mix, and a power blend.   
 
 
 The company claims to have a longer commercial production history than any other vertical farmer in North America. It further claims that its proprietary technology and plant science help generate among the highest crop yields in the industry, up to 20%–60%, and at 25% to 50% of the capital cost of other vertical farming companies. It is also able to produce output that uses 99% less water compared to outdoor fields.
 
 
 The company states that scaling its production is the most challenging aspect and has now begun expanding its operations seven years after commencement. As part of their expansion plans, the company announced a Joint Venture with Emirates Flight Catering in June 2018, and 
 <a href="https://sp-edge.com/updates/7493">
 in December 2021,
 </a>
 the two companies announced plans to build a 130,000 sq ft farm in Dubai, reportedly the largest vertical farming facility in the world. Crop One also plans to build a new facility every year for the next five years. The Dubai facility is expected to produce about 6,000 pounds of leafy greens per day, which will also serve Emirates’ customers, including 105 airlines and 25 lounges. In July 2022, the company announced the opening of its second farm, “Emirates Crop One” (ECO 1), a 330,000+ sq ft facility that is expected to produce up to 2 million pounds of leafy greens per year.  
 
 
 In 
 <a href="https://sp-edge.com/updates/15395">
 December 2022
 </a>
 , Crop One and Cold Spring Harbor Laboratory received a USD 1.5 million grant from the Foundation for Food & Agriculture Research (FFAR) to develop aquatic plants of the Lemnaceae (Lemna) family to provide high-quality protein for human consumption.
 
</div>

Crop One Holdings

<div>
 
 Agricool, a French startup, operates vertical farms in containers using an aeroponic growing system. The company sells its leafy greens, herbs, and strawberries to grocery stores. It currently operates container farms (which it calls “cooltainers”) in Paris and Dubai. By 2021, it plans to operate around 100 farms. The light-emitting diode (LED) lighting used in its containers are powered by 100% renewable energy. The company claims that its locally grown strawberries contain 30% more vitamin C than supermarket strawberries. 
 
 
 
</div>

Agricool

Berlin-based Infarm is a startup that produces herbs and green leaves such as basil, pak choi, coriander, and thyme via a hydroponic vertical farming system. It also produces modular growing systems for grocery retailers, restaurants, schools, and shopping malls in a farming-as-a-service model that sets it apart from competitors. Infarm handles the installation, cultivation, harvesting, and maintenance of its modular farms.&nbsp;&nbsp;The company's cloud-based platform “Growing Centres” is designed to be scalable and can add more modules provided there are no space constraints. Each module can produce 500,000 plants per year using 430 sq ft of space. The farms are monitored and controlled by Infarm’s central control center. As of December 2021, Infarm revealed it was conducting R&amp;D to expand its portfolio with 40 new crops in 2022 including mushrooms, cherry tomatoes, peas, and strawberries, while increasing its presence to 100 growing centers across 20 countries by harvesting a variety of fruits and vegetables by 2030.&nbsp;<a href="https://sp-edge.com/updates/14648">In November 2022</a>, the company announced that it has successfully grown wheat at its indoor farms without the use of soil, chemicals and pesticides, projecting yields of up to 11.7 kg per square meter per year based on initial results.Infarm strengthened its US presence in February 2022, with plans to open a new <a href="https://sp-edge.com/updates/8415">73,000 sq ft vertical farm</a> in Kyle, Texas with a capacity to produce 2.2 million pounds of salad per year. In June 2022, Infarm said that it would be building a 200,000 sq ft Growing Center in Maryland, its third and reportedly largest farm in its network. In Europe, the company began constructing a 10,000 sq meter (~107,000+ sq ft) vertical farming facility in Bedford in August 2021, which may be one of the largest vertical farming facilities in Europe, with the ability to produce up to 18 million plants per year at full capacity (equivalent to 360,000 sqm of farmland). The facility was opened in June 2022. Infarm also revealed plans to open its first growing center in Qatar in 2023, with a focus on fruits such as strawberries, alongside leafy greens, herbs, and salads (December 2021).In October 2023, Infarm’s <a href="https://sp-edge.com/updates/22462">UK branch</a> entered administration under the laws of England and Wales and the Insolvency Rules following the bankruptcy of its <a href="https://sp-edge.com/updates/22225">Dutch</a> branch in September 2023. Previously in April 2023, the company <a href="https://sp-edge.com/updates/17740">closed its facilities</a> in Frankfurt and Copenhagen due to escalating energy prices, inflation, supply chain disruptions, rising material costs, and tough financial markets.Key customers and partnershipsInfarm expanded in Canada, via its partnership with Sobeys (Canada’s second-largest food retailer), to construct four production facilities in Calgary, Halifax, Winnipeg, and Hamilton by 2023, to supply to over 1,000 Canadian grocery stores (July 2021). It aims to operate a capacity of 3 million sq ft in Canada by 2025. The company also has partnered with the virtual supermarket <a href="https://sp-edge.com/sectors/sustainability/updates/6154">Rohlik.cz </a>to offer its greens in the Czech Republic, marking its foray into the Eastern European market. Infarm also partnered with Swedish multinational ready-to-assemble furniture company IKEA <a href="https://sp-edge.com/updates/11069">in June 2022 </a>to supply modular vertical farming solutions to grow herbs at three IKEA stores. Infarm expanded its presence to the Netherlands, where it announced an exclusive supply partnership with online retailer Crisp ( <a href="https://sp-edge.com/updates/7874">January 2022 </a>). As of February 2022, the company had partnered with over 30 retailers across North America, Europe, the UK, and Japan including Kroger, Whole Foods, Amazon Fresh, and <a href="https://sp-edge.com/updates/8769">Coop Danmark </a>, supplying its fresh produce to over 2,850 stores. It also plans to enter new markets in Asia-Pacific and the Middle East.Funding and financialsIn June 2021, it was reported that it was in talks with <a href="https://sp-edge.com/sectors/sustainability/updates/1022">Kernal Group </a>to go public via the special purpose acquisition company (SPAC) route. The possible transaction was likely to value the combined company at over USD 1 billion.Infarm raised USD 200 million in <a href="https://sp-edge.com/sectors/sustainability/updates/7389">Series D funding </a>in December 2021. The round has brought the company’s total funding to around USD 605 million at a valuation of more than USD 1 billion. The fresh funds were to be used for Infarm’s global growth strategy.

Infarm

A soilless growing method that combines aquaculture with hydroponics. A crop's roots are placed directly in containers of nutrient-enriched water connected to fish farming tanks, allowing crops to absorb a continuous supply of nutrients from the waste produced by the fish.

A soilless growing method that places crops' roots directly in containers filled with nutrient-enriched water.

A soilless growing method that suspends crops in the air with a sprinkler or misting system used to spray the exposed roots with a nutrient-rich solution.

Startups that produce and sell modular growing systems that can be placed within containers (e.g. small containers, shipping containers) and buildings or rooms. The containers can be located in a variety of places, such as retail stores, parking lots, and kitchens.

Urban indoor farming maximizes land use by providing controlled environments for efficient crop production

Certain vertical farming systems use IoT and related sensor technologies

Techniques enable better land use management

PROMINENT_CATEGORY

<div>
 
 Operating from Virginia, Babylon Micro-Farms - specializing in the production of mobile indoor farms - has recently introduced STEM Garden. This product is designed specifically for schools, aiming to foster interdisciplinary learning through the in-situ cultivation of food.
 STEM Garden operations include manual watering and it lacks the feature of remote monitoring. To supplement the physical infrastructure, Babylon Micro-Farms have also curated a bespoke curriculum targeted at the STEM Garden. The objective is to educate students about hydroponics in a classroom setting.
 Babylon Micro-Farms is optimistic that their product will fundamentally alter the way food is grown and integrated within the educational system. The company believes that this potentially offers a novel, practical experience - imparting to children that even cooks can cultivate the ingredients necessary for their dishes directly on-site.
 
</div>

Babylon

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