Today dynamic lighting company RED Horticulture closed a 17 million Series A funding round.
Based in the Netherlands and France, the company has developed a dynamic lighting solution for high-tech greenhouse operations.
RED Horticulture's solution is based on dynamic spectrum LED lights that precisely activate the photoreceptors of plants in greenhouses and are controlled via its AI-powered proprietary platform, MyRED.
By providing the right light at the right time, growers using RED Horticulture's lighting strategy achieve higher yields and better crop quality while saving energy resources.
In case studies, strawberry growers have increased yields by 35 percent and reduced the time from sowing to harvesting their crop by 20 percent.
At the same time, young plant breeders have reduced energy consumption by up to 60 percent and achieved better crop morphology using RED Horticulture's lighting strategy.
Louis GOLAZ, CEO, states:
"Since its establishment, RED Horticulture has experienced impressive growth in an intensely competitive market.
We have consistently believed in the unique advantages of our dynamic lighting solution, characterised by its user-friendliness, unparalleled flexibility, and unmatched scalability, which has continuously set us apart in the industry.
Our latest funding round with ECBF, Demeter and Unigrains testifies to the continuing success of our hard work and unshakeable faith in our product.
The European Circular Bioeconomy Fund (ECBF) with Demeter IM and Unigrains led the funding.
Stéphane Roussel, Partner at ECBF, comments:
"Controlled environment agriculture (which includes greenhouses), is poised to grow fast because of the many advantages it offers: producing healthy and nutritious crops close to where they are consumed, while using less soil and water, and with a reduced usage of chemicals.
We were impressed by the boldness and vision of RED's founding team to offer a solution that optimises light as any other input in the greenhouse. Leveraging its strong agronomic expertise, RED allows growers to both further automate their operations and optimise for what matters to them (be it yield, energy, product quality)."
Demeter IM and Unigrains, an agri-food specialised investor also subscribed to the fundraising.
The capital raised will be used to develop high-performance lighting strategies with customers and innovation partners and to support internal research at the PARC, Photobiology & Agronomic Research Centre, RED's agronomy centre in Nantes, France.
Lead image: RED Horticulture. Photo: Uncredited.