Berlin-Germany based leading urban farming network, Infarm, has announced in September 2020, that it has raised around €144 million funding in the first close of series C financing round from LGT Lightstone. The participants include investors Bonnier, Hanaco, Haniel and Latitude along with existing Infarm investors Atomico, Astanor Ventures, Triple Point and Mins Capital.
Established in the year 2013 by Osnat Michaelis and the brothers Erez and Guy Galonska, the platform creates a future where local super fresh produce is available for everyone. These farms are present in various locations in the city such as restaurants & distribution centers, supermarkets so that vegetables could be grown and harvested close to the incident of purchase and consumption.
The farming solution world needs!
These controlled, growing environments are connected to a central cloud-based farm-brain which gathers more than 50,000 data points through a plant’s lifetime. Allowing the platform to learn, adapt and improve itself constantly, so that every plant grows better than the one before. This modular, data-driven, and distributed approach — a combination of big data, IoT, and cloud analytics, in addition to rapid growth at a global scale — sets Infarm apart from any other urban farming solution.
The mixture of debt and equity financing, the total capital infusion of the company comes to more than €254 million, underscoring retailer and consumer appetite for berlin based Infarm’s innovative approach to fresh, sustainable and local food production in early months of this year’s pandemic. The company claims that their farming network is expected to reach more than 5,000,000 square feet by 2025. Therefore, becoming the largest distributed farming network in the world as it builds towards helping cities become self-sufficient in their food production.
The company also claims to deploy the Infarm’s recent funding to deepen the regional and local reach of it’s global farming network. Meanwhile, complete development of Infarm’s new generation of vertical cloud connected farms, capable of generating the crop-equivalent of acres of farmland and amplifying the diversity of produce currently available through vertical farming. Integration of advanced farming technology, software and engineering, these farms could save water, land, labour, food miles and energy.
Healthy farming collaborations
Berlin based Infarm has collaborated with some of the leading retailers in past 12 months including Kinokuniya (Japan), Empire Company Ltd (Sobeys, Safeway, Thrifty Foods – Canada), Albert Heijn (Netherlands), Kroger (United States), Aldi Süd (Germany), COOP/Irma (Denmark), Selfridges (United Kingdom) and Marks & Spencer (United Kingdom). Expanding their market share beyond Germany, Switzerland, Luxembourg to the United States, the United Kingdom, Canada, Netherlands, Denmark and Japan.
With operations across 30 cities in 10 countries, Infarm harvests 500,000+ plants monthly. It is growing while using 99.5% less space than soil-based agriculture, 90% less transport, 95% less water and zero chemical pesticides. The company claims that 90% of electricity use throughout the Infarm network is from renewable energy. The company has set a target to reach zero emission food production next year.
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