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Other - SEPTEMBER 17, 2020

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Urban vertical farming network holds $170m first close

by Andrea Zander

Infarm has held a $170 million first close of a Series C funding round expected to reach $200 million. Led by LGT Lightstone, the first round included participation by investors Hanaco, Bonnier, Haniel and Latitude, and was supported by existing Infarm investors Atomico, TriplePoint Capital, Mons Capital and Astanor Ventures.

With a mix of equity and debt financing, the fresh capital infusion brings Infarm’s total funding to date to more than $300 million, underscoring consumer and retailer appetite for Infarm’s innovative approach to fresh, sustainable and local food production in the wake of this year’s pandemic. By 2025, Infarm’s farming network is expected to reach more than 5 million square feet to become the largest distributed farming network in the world, as it builds towards helping cities become self-sufficient in their food production.

The investment will be used to deepen the regional and local penetration of Infarm’s global farming network and co

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