A $200 million investment in indoor farms

Infarm, a German start-up developing indoor farms, is closing in on a new $200 million investment, hoping to capitalise on renewed investor appetite for companies that can address food supply problems that arose during the pandemic. Berlin-based Infarm has closed an initial $140 million of a planned $200 million Series C funding round… at more than double the valuation at which it raised $100 million a year ago. The deal values the company in the hundreds of millions of dollars… Unlike other vertical farming ventures that install crops in huge warehouses, Infarm’s smaller “modular” units sit on supermarket aisles and inside restaurants. These hydroponic farms can avoid the use of pesticides thanks to a tightly controlled environment, and reduce lengthy supply chains by offering produce that is fresh at the point of sale. Hundreds of its small farms growing herbs and salads can be found on the shelves of supermarkets after it struck deals with Marks and Spencer in the UK and Kroger in the US, as well as European supermarkets including Metro, Casino and Migros. Last month it signed up Aldi in Germany… The company was founded in 2013 by Osnat Michaeli and brothers Erez and Guy Galonska. It competes with several other venture-backed indoor farming start-ups including Plenty, Bowery Farming and AeroFarms.

Tim Bradshaw