Richmond, VA (February 2021) Babylon Micro-Farms has chosen Richmond, Virginia as the site for their corporate headquarters, opening a new office and R & D space in historic Scott’s Addition. The move from Charlottesville was driven by the company’s growth and need for a larger talent pool - they had been courted by California and Arizona as an up and coming tech company in the indoor ag-tech space.
The company has developed disruptive technology - a cloud-based platform that operates vertical farms through a mobile phone app that controls all aspects of farming at the touch of a button. The indoor ag-tech industry is projected to grow globally from USD $121.26 billion in 2019 to USD $167.42 billion by 2025, a compound annual growth rate of 5.4% according to the latest report released by Market Data Forecast last week.
Babylon’s CEO and Co-Founder, Alexander Olesen, commented on the move. “Richmond is the perfect launchpad for our next phase of growth. It has a dynamic business eco-system and gives Babylon the chance to build an even stronger foundation for the future with everything it has to offer.”
Babylon began hiring locally in Richmond prior to the move, scaling up their operations in preparation for the anticipated increase in sales in 2021. Graham Smith, CTO and Co-Founder of Babylon, said “Our growth has been based on significant R & D we were able to accomplish because of support from The Center for Innovative Technology, the National Science Foundation and investors that understood early on the potential for this technology. Richmond offers a hub where innovation and industry intersect and having our headquarters here will fuel our expansion.”
The company expects to triple its workforce in the next three years, adding jobs in every department, from assembly to engineering. For more information visit www.babylonmicrofarms.com or contact email@example.com for interview requests.