Precision Fermentation Raises $6 Million in Funding for IoT Technology

Why It Matters:

Precision Fermentation's IoT technology, known as BrewIQ, has significant implications for the beer industry and other fermentation industries. The precise measurement of conditions inside fermentation tanks is crucial for ensuring consistent output and quality.

The Details:

• Precision Fermentation has raised $6,076,274 of equity funding from a single investor, according to an SEC filing.

• The company's BrewIQ system utilizes IoT technology to provide custom alerts and data, enabling informed decision-making and trend analysis.

• The technology is not limited to the beer industry and can be applied to other fermentation industries such as distilled spirits, dairy, kombucha, and bio-ethanol.

• In March of this year, Precision Fermentation raised $2 million from two investors.

• The company was recently awarded two patents by the U.S. Patent and Trademark Office for its instrumentation, monitoring, and analysis of commercial fermentations.

• Precision Fermentation's CEO, Jared Resnick, highlighted the complexity of fermentation and the company's patented approach, which utilizes multiple sensors, optimized sampling timing, and machine learning for accurate and timely measurements throughout the fermentation cycle.

Conclusion:

With this latest funding round, Precision Fermentation has now raised a total of over $12.5 million since 2020. The investment will support the company's continued development of its IoT technology and its expansion into various fermentation industries.