Infarm, the Berlin-based vertical farming technology specialist, looks set for further growth in Europe and the US after raising US$100m in series B equity and debt funding.
The company, which creates modular units that enable food retail stores, restaurants, schools and shopping centres to grow their own salads, herbs, vegetables and fruit while monitoring their progress remotely, is aiming to reduce carbon dioxide emissions in the food industry by bringing production closer to the point of sale.
The latest investment in what is one of the fresh produce industry's most eye-catching start-ups was led by venture capital firm Atomico, with support from existing investors Astanor Ventures, Balderton Capital, Cherry Ventures and TriplePoint Capital.
Established in 2013 by Osnat Michaeli and brothers Erez and Guy Galonska, Infarm has enjoyed rapid growth since its inception, working in France, Germany and Switzerland with major retailers such as Amazon Fresh, Auchan, Casino, Edeka, Intermarché, Metro and Migros.
More than 200 Infarm units are apparently now up and running in retail stores, with another 150 in distribution centres. The group's customers reportedly harvest more than 150,000 plants per month.
“Infarm was founded with an ambitious vision to feed the cities of tomorrow by bringing farms closer to the consumer, and with this round of funding we aim to grow our presence further,' commented Erez Galoska.
'Sowing the seeds for a delicious and sustainable food system in urban centres across North America, Asia, and Europe. We are proud and excited to welcome Atomico to the Infarm journey.”
