Startups

Investor’s Hope Their $25M Bet On Infarm’s AgTech Will Grow Indoors

Morning Report: Berlin-based AgTech startup Infarm raises a $25 million Series A from Balderton Capital.

Berlin-based AgTech startup, Infarm, raised a $25 million Series A announced yesterday. The round was led by London-based Balderton Capital. According to Techcrunch, the funds will be directed toward development of it’s R&D center in Berlin and toward global expansion to Paris, London, Copenhagen, and other German cities.

Infarm was developed by founders Guy and Erez Galonska with the goal to build a sustainable and environmentally friendly system to supply consumers with fresh, organic produce. The vertical farming approach not only helps eliminates pollution that comes with transportation of produce, but it also reduces water usage and other waste.

The indoor hydroponic vertical farming units are essentially mini farms that can be placed in supermarkets, schools, shopping malls, and restaurants alike. The units allow the consumer to harvest vegetables, fruit, and herbs in the grocery store for a price comparable to other fresh goods. The units are monitored by Infarm’s control center through the cloud.

The startup has raised $32 million since its inception in 2012. It raised $4.5 million in its Seed Round led by Berlin-based Cherry Ventures in July 2017. The company also accepted $2.5 million as part of the Horizon 2020 grant program, which is a fund meant to promote innovation and sustainable growth in Europe.

From The Crunchbase Daily

Market plummets, dimming IPO hopes

  • U.S. stocks tumbled Monday, with the Dow recording its worst one-day point drop in history and the carnage extending to tech shares. The selloff raises concerns for the large pipeline of valuable private companies contemplating IPOs, as new offerings tend to see better reception in bull markets.

Battery Ventures raises $1.25B

  • That said, there’s still plenty of bullish news in tech-land. For instance, technology venture firm Battery Ventures just raised $1.25 billion for two new funds. Of the total, $800 million will go to a fund to making investments across all stages, and $450 million will go to a fund focused on larger growth-stage rounds.

Gay dating app Blued secures $100M

  • Meanwhile, Beijing-based gay dating app, Blued, raised $100 million in a Series D funding round led by Hong-Kong based CDH Investments. Launched in 2012, the app now boasts 27 million users globally on its website.