Infarm closes $100M Series B to scale its ‘urban farming platform’
Infarm, the Berlin-based startup that has developed vertical farming tech for grocery stores and restaurants, is disclosing $100 in in Series B investment. The round is led by London VC Atomico, and consists of mix of equity funding and debt financing.
Infarm’s existing investors, including Balderton Capital, Astanor Ventures, Cherry Ventures, also participated in the round. In addition, TriplePoint Capital has invested, presumably providing a bulk if not all of the debt.
Founded in 2013 by Osnat Michaeli, and brothers Erez and Guy Galonska, Infarm’s “urban farming” platform claims to be capable of growing anything from herbs, lettuce, other vegetables, and even fruit. Its modular farms are placed in a variety of customer-facing city locations, such as grocery stores, restaurants, shopping malls, and schools, enabling the end-customer to actually pick the produce themselves.
The distributed system is designed to be infinitely scalable: you simply add more modules, space permitting, whilst the whole thing is cloud-based, meaning the farms can be monitored and controlled from Infarm’s central control centre. It’s this modular, data-driven and distributed approach — a combination of IoT, Big Data and cloud analytics akin to “farming-as-a-service” — that Infarm says sets it apart from competitors.