Infarm, a rapidly growing urban farming company with a global presence, announced that it has raised $200 million in a Series D funding round. The investment included participation from existing and new investors, including the Qatar Investment Authority (QIA) – which will support the company’s expansion to countries in the Middle East – Partners in Equity, Hanaco, Atomico, Lightrock, and Bonnier.
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The additional capital will serve to expand the deployment of the company’s vertical farms in the U.S., 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 Centers. In 2023, Infarm will open its first Growing Center 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: “The current food system is broken. Vertical farming and the Infarm system provide a sustainable solution to feed a growing population in a way that’s much better for the planet and is far more resilient and flexible in the face of climate uncertainty and supply chain disruption.
“Building a global farming network of our climate-resilient vertical farms is a core mission at Infarm, which is why we’re excited to announce this latest funding round. 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 towards meeting our ambition of growing the entire fruit and vegetable basket in the near future, providing premium products at affordable prices to everyone.”
His Excellency Mansoor bin Ebrahim Al-Mahmoud, CEO of QIA, said: “QIA aims to have a positive impact through all our investments. We continue to increase our exposure to leading innovators globally and we are actively targeting themes including the climate transition and technology.