ImpactAlpha, March 10 — Berlin-based Infarm makes small indoor vertical farms for herbs and vegetables that it sells to grocery stores to allow shoppers to pick their own produce (see, “Infarm secures $25 million for modular indoor farming”).
The company has operations in 10 countries and 33 cities, and partners with retailers such as Amazon Fresh, Kroger Co. and Whole Foods Market. It has raised $400 million to date, including a $170 million Series C raise led by LGT Lightstone in September. Existing investors from the new $100 million additional closing include Hanaco Venture and Atomico.
The equity and debt funding will help the company meet demand for produce — especially in urban areas — which has spiked through the COVID pandemic. Infarm will start growing mushrooms, tomatoes and chillies, Erez Galonska told Bloomberg.