IKEA among new investors in AeroFarms

IKEA among new investors in AeroFarms

The New Jersey-based vertical farm closed $40 million in Series D round of funding.

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December 11, 2017
AgFunder
Business

US indoor agriculture group AeroFarms has closed a $40 million Series D round, adding IKEA Group and David Chang, chef and founder of the Momofuku Group, and retired US Army General David Petraeus to a previously released list of international investors. 

A May Securities & Exchange Commission Filing indicated that AeroFarms had raised $34.3 million of a targeted $40 million.

AeroFarms grows leafy greens using aeroponics –- growing them in a misting environment without soil –- LED lights, and growth algorithms.

The round takes AeroFarms’ total fundraising efforts to over $130 million since 2014, including a $40 million debt facility from Goldman Sachs and Prudential.

AeroFarms attracted new, international investors in this latest round, including Meraas, the investment vehicle of Sheikh Mohammed bin Rashid, vice president of the United Arab Emirates and the ruler of Dubai.

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