Stories: Infarm raises $100 million to expand its urban farming platform to the U.S. and beyond
Infarm, a Germany-based European Innovation Council pilot's funded company that distributes “modular farms” to grocery stores and other urban locations, has raised $100 million in a series B round of equity and debt funding led by Atomico, with participation from existing investors including Balderton Capital, Cherry Ventures, Astanor Ventures, and TriplePoint Capital.
The CO2 emissions produced by growing, farming, and transporting food around the world is significant, with some estimates pegging the food footprint (“foodprint”) at around one-quarter of the total global greenhouse gas emissions. By creating a system of vertical micro-farms in cities, which entails producing food indoors within a stack of glass cases in a controlled environment, Infarm is pushing to reduce the environmental burden that food production has on the planet.
According to the company, its technology is designed to be built and distributed in any available space, and there is no need for a centralized warehouse or other infrastructure setup costs. The farms can be found in restaurant kitchens, supermarket aisles, and warehouses, and are designed to scale and make cities self-sufficient in producing their own plant-based food.
Each farm is its own ecosystem, with growing recipes that tailor light spectrums, temperature, and nutrients to ensure the maximum natural expression of each plant. A matrix of sensors collect and record growth data from each farm. Infarm is remotely controlling the performance of the farms at all times, ensuring your plants receive the best care as they grow.
“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 — sowing the seeds for a delicious and sustainable food system in urban centers across North America, Asia, and Europe,” noted Erez Galonska, Infarm cofounder and CEO.
Founded in Berlin in 2013 by Osnat Michaeli alongside brothers Erez and Guy Galonska, Infarm has partnered with a number of food retailers across Europe, including Amazon Fresh, Metro, Edeka, Migros, Casino, Auchan, and Intermarche to install vertical indoor farms inside their outlets. In 2016 the company received a Phase 2 grant from the EIC pilot SME Instrument of 1.931.885 €.
View Infarm's information on the EIC SME Instrument data hub.