Urban farming company Infarm raises $200 million in a Series D funding round. The investment included participation from existing and new investors, including the Qatar Investment Authority (QIA), Partners in Equity, Hanaco, Atomico, Lightrock and Bonnier.
The additional capital will serve to expand the deployment of the company’s vertical farms in the US, Canada, Japan and Europe, and to enter new markets in Asia-Pacific and the Middle East with both in-store farming units and Infarm Growing Centres. In 2023, Infarm will open its first Growing Centre in Qatar, where it will harvest tomatoes, strawberries and other fruiting crops besides herbs, salads and leafy greens.
Erez Galonska, co-founder and CEO of Infarm, said, “This strategic investment will support our rapid global expansion and bolster our R&D so that we can grow more varieties of crops close to consumers across Europe, Asia, North America and the Middle East. It’s another step toward meeting our ambition of growing the entire fruit and vegetable basket in the near future, providing premium products at affordable prices to everyone.”