BioLumic raises US$5M for UV crop enhancement system

BioLumic has raised US$5 million in funding to help deal with growing global demand for increased agricultural crop yields using short-duration ultra-violet treatments rather than genetic modification or chemicals.

The Palmerston North-based company, creator of the world’s first crop-yield enhancement system using UV light, attracted funding from Silicon Valley agritech investor Finistere Ventures, the Radicle Growth acceleration fund whose investors include Finistere, Rabobank’s recently-launched global Food & Agri Innovation Fund and existing investors from across New Zealand. Finistere has previously backed Israeli agritech company CropX, which licensed research from New Zealand’s Landcare Research.

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