Participated · Series A · Aug 2022

Biotia is a New York, NY health tech company that leverages sequencing-based technology and proprietary AI-powered software to rapidly and accurately identify microorganisms and antimicrobial resistance. Launched from the Jacobs Technion-Cornell Institute at Cornell Tech, Biotia operates a SUNY Downstate-affiliated CLIA lab at BioBAT in New York City. Its products include a curated genomics reference library for pathogens, clinical-grade metagenomics assays, and a sequencing-based assay to detect SARS-CoV-2 variants that recently received expanded FDA EUA. The company provides software, data, and lab assays to clinicians, laboratories, and public-health organizations for pathogen detection, characterization, research, and surveillance. Biotia plans to grow its diagnostic offerings and expand capacity for global pathogen research and surveillance while rolling out new algorithms and tools for physicians, researchers, and health systems. Financially, Biotia has raised an oversubscribed $8 million Series A and will use the investment to expand technical capabilities, compliance, and marketing reach. Biotia leverages next-generation DNA sequencing (NGS) and proprietary AI software Chelsea™ to rapidly and accurately identify microorganisms and antimicrobial resistance from clinical and environmental samples. Chelsea can detect known and emerging bacteria, fungi, parasites and viruses from a clinically‑curated and annotated database of over 16,000 microbial species and reports predicted drug resistance and virulence markers. The company has built one of the world’s largest precision metagenomics clinical databases by working with hospitals internationally across sample types including urine, stool, blood, sputum and soft tissue. Biotia plans to launch new CAP/CLIA clinical diagnostic tests in early 2020 and is expanding its offerings from environmental testing and research‑use patient tests to patient diagnostics. The company announced an oversubscribed $2.4M seed raise to further develop and implement its diagnostic testing methods and AI software. The executive team includes Co‑Founder and CEO Dr. Niamh B. O’Hara, Co‑Founder Dr. Christopher E. Mason (Global Director), Co‑Founder and CTO Dr. Rachid Ounit, and Chief Medical Officer Dr. Dorottya Nagy‑Szakal.

Participated · Series C · Jan 2022

Greenlabs digitizes the complete agricultural industry value chain from production to distribution through consumer and enterprise-facing products. Its offerings include the Farm Morning app (serving 500,000 produce growers), a smart farm system deployed in 3,000 projects in Korea, and Sinsun Market, which supplies 10,000+ businesses with directly sourced fresh produce. The company directly sources produce from growers on the Farm Morning network to supply enterprise buyers via Sinsun Market. Greenlabs has already expanded into China and Vietnam and is a member of the Born2Global Centre. Founded in 2017 and led by CEO and co‑founder Charlie Sanghoon Shin, the company plans to use new funding to accelerate global expansion. The report states total funding to date exceeds $176M.

Participated · Series C · Jan 2022

Green Labs develops smart farming software and hardware to digitize the agriculture value chain, operating the Farm Morning app and a B2B marketplace called Sinsun Market. Its Farm Morning app aggregates farm data and uses AI to provide crop lifecycle insights and a networking layer for farmers; 900,000 farmers in South Korea use the app and that figure tripled in the past 12 months since its 2021 launch. The company also ran an accounts receivable factoring service, buying produce from farmers and selling to B2B partners, which contributed to a liquidity crunch when the Korean bond market froze. Green Labs reported roughly $77M in sales in 2021 and more than $230M in 2022, then laid off about 70% of staff (350 people) in February and cut SG&A by about 80% versus year-end 2022; headcount is now about 150. It has 300,000 users in Japan after launching there in fall 2023 and plans to further advance the Farm Morning app and expand in South Korea and Japan while running its invoice-discounting business more conservatively. Green Labs offers a suite of smart-farming products including Farm Morning, an AI-driven app that aggregates data and gives insights to more than 500,000 farmers, and Sinsun Market, a B2B fresh-produce marketplace serving over 10,000 enterprise buyers. The company also builds smart farming software and hardware that leverage IoT, robotics and artificial intelligence to help farmers manage operations. Since 2021 Green Labs has expanded its smart-farm technologies to China and Vietnam and plans further overseas expansion via strategic partnerships. It intends to use new funding to expedite global expansion, pursue acquisitions and increase headcount. The startup currently employs 320 people and has positioned itself against global peers such as Farmers Business Network, Climate Corporation, Indigo Ag and Ninjacart. Green Labs has raised $170 million to date and reported a pre-money valuation of around $700 million for the latest round.