With this investment, Infarm became the first vertical farming venture in Europe to pass the investment point of 1 billion dollars.
Erez Galonska , co-founder and CEO of Infarm, who said that the current food system has deteriorated, said that with vertical farming and Infarm system, a sustainable solution will be provided by feeding the increasing population of our planet much better; He also states that it is possible to be much more resilient and resilient in the face of climate uncertainty and supply chain disruptions.
Galonska also added that Infarm has a mission to build a global farming network of climate-resilient vertical farms close to consumers.
The company currently grows 75 different varieties of herbs, salads and leafy greens. The company, which wants to grow all fruits and vegetables and sell first-class food at affordable prices to everyone, plans to expand its portfolio with 40 new products such as mushrooms, cherry tomatoes, peas and strawberries next year.
Although there are many advantages, there are criticisms that vertical farms use too much energy and cause light pollution and other pollution.
Growing Centers
Infarm has breeding centers with an area of approximately 110,000 square meters. The company is also building smaller in-store farming units for grocery stores. It currently operates more than 17 breeding centers for 30 retail stores and small store farms in more than 1,400 stores worldwide.
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The company claims it can convert an area the size of a living room into an urban vertical farm that produces more than 500,000 plants a year, the equivalent of the size of a football field.
Unlike conventional farming, Infarm's vertical farms do not use pesticides. They also recycle water and nutrients and even use water that evaporates from plants. The company claims that these methods use 95% less land and 95% less water than soil-based agriculture.
Infarm's indoor farms are filled with sensors used to collect massive amounts of data on everything from temperature and humidity to soil nutrient levels and crop growth rates.
The company said it will use the investment to expand its vertical farms in the US, Canada, Japan and Europe, and to enter new markets in Asia-Pacific and the Middle East.
Investors in the latest funding round include Partners in Equity, Hanaco, Atomico, Lightrock, Bonnier and the Qatar Investment Authority, which will support the company's expansion to countries in the Middle East.
The company plans to open a cultivation center in 2023 in Qatar, which has to import most of its food due to its climate.