Infarm - planning to expand further after funding boost

Infarm - planning to expand further after funding boost

Germany-based vertical-farm operator Infarm has seen its Series C funding topped up by US$100m, taking the total raised in the round to $270m.

Existing backers Hanaco and Atomico were among the investors putting in money this time around in a move that takes Infarm's total funding to date to more than $400m.

Erez Galonska, CEO and co-founder at Infarm, told just-food: "This additional $100m funding on the back of Series C from our existing investors is a great vote of confidence in our accelerating growth as we continue to deepen our footprint in existing markets, roll out new product varieties, and hire top talent to build the largest cloud-connected farming network in the world."

The initial $170m funding was secured in September.

Infarm said it will use the money to expand its team and diversify beyond salad greens and herbs to start growing chillies, mushrooms and tomatoes.

Berlin-based Infarm launched in 2013 and now operates across ten countries supplying major food retailers, including Kroger in the US, Marks & Spencer in the UK and Aldi in Germany.

In December, Infarm formed an agreement with a subsidiary of Japanese conglomerate Sumitomo Corp. to put its growing systems for fresh produce in supermarkets in that country.