Germany’s Infarm Escalates Fight for Supremacy in Indoor Farming

Wall Street Journal writer Marc Vartabedian reported earlier this week that, “Venture investors are firing another salvo in the increasingly competitive field of indoor farming, a growing market that has already drawn interest from powerhouse firms like SoftBank Vision Fund and GV.

Infarm, a Berlin-based startup, said Tuesday it raised $100 million in a Series B investment led by Atomico. As part of this investment round, Atomico Partner Hiro Tamura will join the company’s board.

“Existing investors of Infarm, legally known as Indoor Urban Farming GmbH, including Balderton Capital, Astanor Ventures, Cherry Ventures and TriplePoint Capital participated in the round.”

The Journal article stated that, “Vertical farming has fetched hundreds of millions in venture-capital dollars in recent years. Plenty Unlimited Inc., based in South San Francisco, Calif., has raised $260 million, according to PitchBook Data Inc., including a $200 million financing led by SoftBank Vision Fund in 2017. New York-based Bowery Farming Inc. has raised nearly $120 million, including a $90 million Series B led by GV in 2018, according to PitchBook.

Now with its latest funding round, Infarm has collected $135 million since it was formed in 2013 by Chief Executive Erez Galonska with his brother Guy Galonska and Osnat Michaeli.

“The 250-person company—with operations in Switzerland, Luxembourg, Germany and France—says it plans to expand its farming to the U.K. in September and the U.S. next year. Its herbs and leafy greens are sold through 25 European retail partners such as Edeka, Metro, Migros, Casino, Intermarche, according to Infarm.”

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