freight farms

Brief: Freight Farms Raises $7.3m Series B Round For Shipping Container Tech

June 8, 2017

Freight Farms, the startup growing lettuce inside shipping containers, has completed its Series B funding round on $7.3 million.

AgFunderNews first reported the round in April when an SEC filing revealed the company had closed $5.7 million of a targeted $8 million. The startup would not comment at the time.

Now, it has officially announced the round, raising the funding from existing investor Boston-based Spark Capital along with new investor Stage 1 Ventures with support from early investors like Launch Capital. It didn’t reach $8 million, but exceeded an original target of $6 million, according to a spokesperson.

Freight Farms has now raised a total of $12 million and deployed 100 farms that use hydroponic technology, LED lighting, and automated watering and fertilizing technology, and help farmers to track and control their operations remotely via cameras and a mobile app.

The startup raised $3.7 million in Series A funding in 2014, from Spark CapitalLaunchCapital, Morningside Group and Right Side Capital Management. It formed in 2010 by Brad McNamara and Jon Friedman.

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