Seed World

AgBiome Raises $34.5 Million in Funding for Research and Development

Agricultural biotechnology company AgBiome raises $34.5 million from investors that it plans to put into research and development and the launch of its first product. The new funding is one of the largest venture capital hauls by a Research Triangle Park company this year.
AgBiome has 36 full-time and 14 part-time employees, and expects to add “a half-dozen or more” R&D employees this year and more than a dozen next year, said Dan Tomso, chief scientific officer. The company also anticipates assembling a sales team, but wouldn’t begin to do that until next year in conjunction with the anticipated regulatory approval of its first product, says chief financial officer Andrew Graham.
AgBiome isn’t disclosing its hiring plans for its sales team. It plans to move into a new 30,000-square foot facility, which includes a 5,000-square-foot greenhouse, early next year. That space can accommodate up to 70 employees.
More information is available here: