Indoor farming startup Infarm raised an additional $100 million to expand into more foods as the coronavirus pandemic increases interest in growing produce in urban areas.
Infarm, which already grows salad greens and herbs, wants to strengthen its presence in existing markets, hire more people and venture into new crops including mushrooms, tomatoes and chillies, Chief Executive Officer Erez Galonska said. The Berlin-based company received extra financing from existing investors that’s on top of the $170 million raised in September.
“The idea is that in the mid term, we’re going to cultivate the entire fruit and vegetable basket,” Galonska said in an interview. “This will be a pivotal moment for the industry, but also to people that consume the food. We will be able to offer a more diverse basket, a premium basket, and hopefully change the way people eat and think food.”
Infarm is present in 10 countries and has deals with retailers like Kroger Co., Amazon Fresh, Metro AG and Marks & Spencer Group Plc. It provides modular units that grow food on supermarket aisles and inside restaurants. Diversifying crops will help accelerate the shift to plant-based diets, Galonska said.
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