Attendees at the recent Partners’ Summit organised by The Factory’s agritech accelerator Sprout got the opportunity to be part of the opening of a world-first lab in May 2018.
What began as an experiment in the bedroom of Biolumic founder Dr. Jason Wargent has become the first lab in the world to research the beneficial effects of UV Light on plant growth. Surprisingly, the origin of that small scale experiment was Dr. Wargent’s research into the harmful effects the hole in the ozone layer was having on plant growth. Turns out UV light exposure has the opposite effect.
Investors have seen the potential Biolumic technology can have to help with the world's increased food needs in the future. Biolumic have shown their UV systems can increase crop yields by up to 40%. That’s why the interest (and investment) Biolumic has attracted has taken it from a bedroom to its own lab in 6 years.
But taking research which has promise and making it into a business is something that’s tough to do alone. They might have a lab now but for a long time it was just Dr. Wargent and CEO Warren Bebb. That’s why James and the rest of The Factory team who run Sprout have been so excited to support Biolumic.
We’ve assisted. with everything from investment to governance, strategy and business plan development. Along the way Biolumic has raised close to $10 million, including US$5 million raised in a single finance round this year.
If you think your business could do with its own shot of UV to help it grow talk to us.