Brazil: Pink Farms aims to bag $3mln in funding to expand

São Paulo, Brazil-based Pink Farms claims to be the largest urban vertical farm in Latin America. Co-founder and CEO Geraldo Maia tells AFN that despite this status, current operations are on “a very small scale.” It aims to change this thanks to the SLC investment.

Pink Farms grows roughly 6,000 pounds of leafy greens per month on its 750 square-meter controlled-environment vertical farm in São Paulo. The company sells its products through a subscription service as well as at retailers like Carrefour.

Currently, Pink Farms is finalizing its Series A round, which Maia expects will reach its target of R$15 million (around $3 million).

He says the company plans for 10x growth over the next year and to increase production from 30 SKUs to 75.

“We’re going to start developing strawberries and other berries, mushrooms, tomatoes, peppers,” he adds. “Our aim in the next five years is to have at least 400 SKUs.”

Read the complete article at www.agfundernews.com.


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