Infarm raises $25 million in Series A funding

Infarm raises $25 million in Series A funding

The startup developed vertical farming technology for grocery stores and other local businesses.

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February 5, 2018
TechCrunch
Business

Infarm, a startup that has developed vertical farming tech for grocery stores, restaurants and local distribution centres to bring fresh and artisan produce much closer to the consumer, has raised $25 million in Series A funding.

The round is led by London-based VC firm Balderton Capital, with participation from TriplePoint Capital, Mons Investments, and previous previous investors Cherry Ventures, QUADIA and LocalGlobe.

It brings the total raised by the Berlin-based company to $35 million, including a $2.5 million grant from the European Commission as part of the Horizon 2020 program.

Infarm says the new capital will be used for international expansion and to further develop its 5,000 sqm R&D centre in Berlin. This will include bringing its vertical farming system to Paris, London, and Copenhagen, in addition to other German cities later this year. The startup is targeting 1,000 farms to be operational across Europe by the end of 2019.

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