Two startups based in the Vancouver area have garnered funding from Genome British Columbia.
Genome BC is a not-for-profit organization that has advanced genomics research and innovation for 25 years.
The organization is funding the startups through its Industry Innovation Fund, known as I².
“The I² fund is bridging the gap between innovation and commercialization in BC’s bioeconomy,” explains Suzanne Gill, chief executive officer of Genome BC.
Genome BC’s I² Fund offers repayable, interest-free growth capital to small and medium-sized enterprises commercializing life science technology-based products, processes, or services.
Maia Farms, a mushroom and mycelium ingredient company, has received $1.75 million from Genome BC to scale a process that leverages bioreactors which up-cycle agricultural byproducts to produce fermentation-based mushroom mycelium.
Delivered as a protein and fibre ingredient for food manufacturers, mycelium can be a versatile ingredient, applicable to everything from soups to ice cream.
“Maia’s innovative food ingredients are a result of advancements in genetics, agricultural upcycling, and bioreactor technology,” says chief executive officer Gavin Schneider.
He describes the trifecta of circumstances as “a nexus that could only happen in BC.”
Schneider says Maia will use the funding to “scale up production and explore new manufacturing options.”
The funding builds on $2M of pre-seed capital raised in 2024 following victory in the Deep Space Food Challenge.
I² this year also provided $1.5 million to Verdi, a startup-to-watch empowering farmers with AI and automation tools for crop management.
Cofounders Arthur Chen and Roman Kozak have worked side-by-side with farmers to co-develop hardware and software solutions that address barriers to technological adoption.
Chen recalls being “surprised to find how many farms still rely on manual work in managing their resources like water and fertilizer.”
With Verdi, growers can manage their existing irrigation systems from their phones, which lets them use live data and automation to save time, water and labour.
Unlike conventional systems that require infrastructure upgrades, Verdi’s patented smart devices retrofit to existing irrigation systems, offering a low-friction path to automation.
The platform promises up to 90% labour savings, 70% water savings, and 20% yield improvements for users.
Since receiving the capital from Genome BC—the company also raised $6.5M in an oversubscribed seed funding round in May—Verdi has quadrupled revenue, according to Chen.
“Our investments in companies like Maia Farms and Verdi help them grow and strengthen BC’s economy and our position as a leader in agritech,” stated Gill.
In addition to investments in private startups, Genome BC is actively involved in a number of other projects, such as one to protect the province’s wine industry, and another oriented around stem cell research and development.
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