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Vertical Farm Startup InFarm Raises $100 Million

by Chris Albrecht
June 11, 2019June 12, 2019Filed under:
  • Vertical Farming
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Berlin-based vertical farming company InFarm said it has raised a $100 million Series B investment. This round was a mix of debt and equity and led by Atomico, with existing investors Balderton Capital, Astanor Ventures, Cherry Ventures, and TriplePoint Capital participating. This brings the total amount raised by InFarm to $134 million.

InFarm is among a wave of startups looking to shorten the produce supply chain through indoor vertical farms. The company creates high-tech pods that can be installed in places like grocery stores, restaurant or bars, so those businesses can grow their own greens and vegetables on-site. The company has a number of partners including Intermarche and Amazon Fresh in Europe.

It’s only Tuesday and it’s already been a big week for vertical farms. Yesterday, UK-based grocer Ocado announced it was partnering with Dutch firm Priva and U.S.-based 80 Acres to create a new vertical farming company called Infinite Acres. Ocado also announced yesterday that it had purchased a majority stake in vertical farming company Jones Foods.

With its small footprint, granular control of resources like water and ability to basically eliminate lengthy (and environmentally unfriendly) transportation costs, vertical farming holds the promise of bringing agriculture into urban environments. However, the sector is rife with failed startups, and the industry is still struggling to scale.

For its part, InFarm says scaling is exactly what it’s going to use its new money for, as the company looks to grow throughout Europe and the U.S., and broaden into Japan.


Related

InFarm Raises $170M to Expand Its Vertical Farming Network

Berlin, Germany-based vertical farming company InFarm announced today it has raised $170 million in the first close of its Series C round, bringing its total funding so far to $304.5 million. The investment round, a mix of equity and debt financing, was led by LGT Lightstone with participation from Hanaco,…

Kroger Partners with Infarm to Grow Greens in Grocery Stores

Kroger announced today that it has partnered with Berlin-based Infarm to install modular, indoor vertical farms in some of its grocery stores. According to the press release, the deal will place Infarm units at 15 of Kroger's QFC stores, starting with two locations this month in Bellevue and Kirkland, Washington.…

InFarm’s High-Tech Vertical Farms Head to Canadian Grocery Stores

InFarm is bringing its in-store vertical farming systems to Empire supermarkets across Canada, according to a press release from Empire. The partnership will launch this coming spring and put InFarms’s high-tech farm pods in stores across that country, including at Empire subsidiaries Sobeys, Thrifty Foods, and Safeway Canada.  Berlin-based InFarm,…

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Tagged:
  • indoor farm
  • Infarm
  • vertical farms

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Previous Post Sweetgreen Makes First-Ever Acquisition With Purchase of Meal-Delivery Company Galley Foods
Next Post To Infinite Acres and Beyond: Ocado Moves Into Indoor Farming, Robots Invade the Grocery Aisles

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