Urban Oasis, an indoor vertical farming company based in Sweden, announced that it has raised 10.5 million Swedish Krona (~$1.22M USD). Investors include Family Offices Pelarhuset, Anteeo, and Yobi Partners Ltd.
Founded in 2017, Urban Oasis built its first indoor vertical farm underneath an apartment complex in Stockholm. The company produces a variety of leafy greens, including kale, bok choi, and lettuce, which are sold at Swedish retailers including ICA, COOP, and online grocer MatHem.
With its new funding, Urban Oasis aims to build its first MegaFarm, which will expand its production capacity by 15 to 20 times, according to today’s press announcement. The new facility is controlled by Urban Oasis’ GreenOS automation software and will be operational by the end of this year for growing a variety of crops.
Funding for the controlled-environment agriculture, and vertical farming in particular, has been downright frothy this fall. Other players in the space getting investment include Plenty, Kalera, InFarm and Unfold. As my colleague, Jenn Marston explained last month:
Read more at the Spoon (Chris Albrecht)