Infarm, a Berlin-based startup that has developed vertical farming tech for grocery stores and restaurants, disclosed $100m Series B investment. The round was led by London VC Atomico, and consists of mix of equity funding and debt financing.
Infarm's existing investors, including Balderton Capital, Astanor Ventures, Cherry Ventures, also participated in the round. In addition, TriplePoint Capital has invested, presumably providing a bulk if not all of the debt.
Founded in 2013 by Osnat Michaeli, and brothers Erez and Guy Galonska, Infarm's "urban farming" platform aims to be capable of growing anything from herbs, lettuce, other vegetables, and even fruit. Its modular farms are placed in customer-facing city locations, such as grocery stores, restaurants, shopping malls, and schools, with the goal being to enable the end-customer to pick the produce themselves.
Erez Galonska, co-founder and CEO of Infarm stated:
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. Sowing the seeds for a delicious and sustainable food system in urban centres across North America, Asia, and Europe. We are proud and excited to welcome Atomico to the Infarm journey.