Vision Greens raises $7 million in new funding

Vision Greens raises $7 million in new funding

Per the release, Vision Greens says it will scale up and produce 700,000 pounds of product annually.

Vision Greens, a Welland, Ontario-based vertical farm, announced in a press release that it has raised $7 million. Per the release, "investors are purpose-driven business leaders, including members of the Canadian grocery segment focused on changing Canada’s food system by bringing affordable, sustainably grown, fresh, local produce to market."

“Vision Greens has an edge in this emerging space because it has the technology and the methodology to scale quickly and provide millions of Canadians with an affordable, and sustainable way to eat,” said Grant Froese, Vision Greens board member, grocery industry veteran and former COO of Loblaw Companies Limited. 

With the investment, Vision Greens says it will expand its operations to grow 700,000 pounds of saleable produce annually and scale distribution to leading grocers and meal kit companies that currently include Metro, Pusateri’s and Goodfood. The company's product line consists of six products: Crunchy Green Leaf Lettuce; Fancy Premium Lettuce Mix; Crispy Baby Romaine Lettuce; Crunchy Red Leaf Lettuce; Zesty; Arugula; and Living Genovese Basil.

“Each year, Canada imports 559 million pounds or about $2.2 billion worth of lettuce from thousands of miles away. This funding is already helping us deliver on our mission to help fix Canada’s broken food system and replace imported produce with clean food that’s better tasting. Now we can meet increased demand from leading grocers and are on track to capture double digit market share over the next few years,” said Lenny Louis, the CEO of Vision Greens. 

“Our customers are raving about Vision Greens,” said Frank Luchetta, President & CEO, Pusateri’s Fine Foods. “We’re excited to offer a locally grown product and make significant strides to reduce our dependence on imported produce, offering exceptional freshness and taste, and allowing our guests to eat more fresh local food.”