Infarm is doubling down on its Growing Centres with a target to have 100 across 20 countries by 2030. The Qatar Investment Authority will work with it to build the emirate’s first Growing Centre by 2023.
Vertical farming is facing a period of depression and correction as big farms struggle to pay investors back while running complex and expensive operations. But that’s not necessarily a bad thing, writes Henry Gordon-Smith.
Novel Farming Systems ventures – which include tech-enabled vertical farms and greenhouses – may be losing their luster for investors.
Better tracking around waste, water, and energy usage could help the CEA industry more accurately measure the sustainability of their operations.
Novel Farming Systems ventures raised a total of $911 million in funding during the first six months of the year, according to AgFunder data.
“We’ve spent the money to take the R&D risk away” for vertical farm operators, IGS’s David Farquhar says on the sidelines of COP26.
The Chilean startup is building what it says is Latin America’s first large-scale sustainable vertical farming plant, powered completely by renewables.
The Abu Dhabi-based company will add over 100 crops to its portfolio, as well as new CEA technologies, through its collaboration with PlanTFarm.
David Rosenberg, the vertical ag company’s CEO, said that “proceeding with this transaction is not in the best interests of our shareholders.”
N.Thing said the funds will go towards worldwide commercialization of CUBE, its modular, software-powered vertical farming system.
Novel Farming Systems – which includes CEA, aquaculture, and insect production – was the second best-funded agtech category last year, according to AgFunder.
Kalera will instantly expand its global presence by acquiring &ever, which operates vertical farms across Europe, Southeast Asia, and the Middle East.
In the wake of a $160 million Series B round, 80 Acres CEO Mike Zelkind argues that some valuations in the indoor ag industry are exaggerated.
Rise Gardens founder Hank Adams launched the in-home farming startup after finding the economics of large-scale indoor farming too daunting.
CEO Erez Galonska said the deal “represents one of the largest rollouts of any vertical farming company in North America to date.”
It claims to be the US’s largest indoor farming operation to be certified organic by the USDA – and the country’s leading supplier of fresh herbs.
The Montanan startup claims it can offer “superior unit economics” thanks to a “unique hybrid facility configuration” combining conventional greenhouses with vertical farming.
The Israeli company wants to make saffron more accessible and affordable by growing the spice – which is more expensive than gold – indoors with the assistance of technology.
Bowery just closed the biggest-ever vertical farming funding round. Listen to our recent podcast with its CEO Irving Fain here.
Bowery will use the funding to fuel R&D efforts around new crop varieties like cucumbers, peppers, tomatoes, root vegetables, and tubers.
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