The Germany-based urban farming company Infarm generated $25m (€20m/£18m) in a Series A funding, reports Finsmes.
This brings Infarm’s total raised to $35m (€24m/£21m). Balderton Capital led the round with participation from TriplePoint Capital and Mons Investments LLC. Previous investors Cherry Ventures, QUADIA and LocalGlobe joined as well.
Infarm wants to become a global operation and develop its 5,000 sqm R&D center in Berlin with the funds.
The company was founded in 2013 by Osnat Michaeli and the brothers Erez and Guy Galonska. It merges IoT tech and data science with smart modular farms in urban environments in order to grow fresh produce for city people. The farms, though distributed, are linked to a central framing platform, generating an urban farming network with mini-ecosystems that use factors like light, temperature, pH and soil nutrients to maximize the expression of each plant.
The company can customize its farms to consumers individual needs, growing different products for different supermarkets or adjusting the flavor of the produce to please the taste of a given client base.
Infarm is now functioning in over 50 farms across Berlin in restaurants, supermarkets, and warehouses. It has merged in-store farming into EDEKA and METRO locations, two of Germany’s biggest food retailers, where it produces dozens of herbs and leafy greens, sold at economical prices. The company wants to grow its farming services past Berlin and roll out operations in Paris, London, Copenhagen, and other German cities later in this year.