Hobbs & Towne Client BioConsortia Raises $15M in Series B
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Hobbs & Towne Client BioConsortia Raises $15M in Series B

Hobbs & Towne client BioConsortia, Inc. rasied $15 million in Series B funding from Menlo Park-based Khosla Ventures and Palo Alto-based Otter Capital LLC.

Hobbs & Towne CEO & Founding Partner Andy Towne and Managing Partner/Co-Founder Bobby Hobbs recently placed Marcus Meadows-Smith as Chief Executive Officer at BioConsortia.

The Davis-based agricultural biotechnology company has developed a proprietary system that uses advanced microbial selection and the latest genomic techniques to define products for specific crop improvement traits. It relies on what is known as microbial consortia, which are elements of natural communities of bacteria and fungi. Its system quickly identifies the best microbial communities that can improve plant traits and increase crop yield. The system is touted as an alternative to mixing individually identified microbes and does not rely on genetic modification. The startup company says the system rapidly identifies the right consortia and can apply to both conventional and genetically modified crops.

For the full article, click here.

For more information on HTI’s placement of Marcus Meadows-Smith, click here.