German-founded Urban farming startup Infarm has secured a $100 million funding round described as a mix of equity and debt financing led by Atomico, with participation from existing investors Balderton Capital, Astanor Ventures, Cherry Ventures, and TriplePoint Capital.
Infarm has developed a quickly-deployable modular urban vertical farming platform. The company currently operates in Germany, Switzerland, and France where it’s partnered with food retailers like Edeka, Metro, Migros, Casino, Intermarche, Auchan, Selgros, and Amazon Fresh. It claims to have deployed 200 in-store farms and another 150 farms in distribution centres, harvesting more than 150,000 plants monthly.
“Infarm was founded with an ambitious vision to feed the cities of tomorrow by bringing farms closer to the consumer, and with this round of funding we aim to grow our presence further,” said Erez Galonska, co-founder and CEO of Infarm. “Sowing the seeds for a delicious and sustainable food system in urban centres across North America, Asia, and Europe.”
Infarm plans to launch operations in the UK in September, mentioning that it’s going to partner with “some of the country’s largest online and brick-and-mortar supermarkets.” It’s also supposedly in talks with retailers in the US and Japan.