Infarm raises $25m to bring fresh produce to cities across Europe
“Urban-farming” company Infarm has raised a $25m Series A led by the London-based VC firm Balderton Capital to let grocery stores grow their own produce.
The round of funding brings the Berlin-based startup’s funding to a total $35m, including a $2.5m grant from the European Commission as part of the Horizon 2020 program — the EU’s largest research and innovation initiative.
“It’s my kale in a box”
Founded in 2013, Infarm created an “indoor vertical farming” system that can grow a plethora of vegetables like herbs and lettuce, as well as fruit, in small, modular greenhouses.
Once grown, the mobile farming units are then placed in city locations like grocery stores, restaurants, shopping malls, and schools, allowing the customer to literally pick their own produce.
But, the setup isn’t just the ultimate gimmick for uber-organic, “pick-your-own” melonheads, according to Infarm, it’s about “disrupting the highly wasteful and inefficient produce supply chain as a whole.”
They’re picking up steam
The company now has more than 50 farms up and running, including locations in 2 of Germany’s largest supermarket chains.
According to the company, their new capital will help them expand into Paris, London, and Copenhagen, as well as other German locations later in the year.
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