AloAlto, a Spanish vertical farming company, has been awarded a €195,000 loan to further pursue its company goals. "It fills us with pride and responsibility to gain their trust, both in us and our business model," the team shared.
The funding will be spent on autonomy to potentially increase capacity and flexibility to open new product lines. On top of that, they want to enter a new chapter by exploring energy efficiency. "We are developing a solution that integrates natural resources further into our farming. On top of that, we're conducting R&D on the cultivation of new crops and applying system innovations to grow them," says Alejandro Casacuberta Torello, Co-founder at Aloalto.
The Aloalto founders
"This is definitely on our roadmap, however volume and traction first, after PMF we'll look at further geographies. What projects are you working on besides this? Neotech CDTI could be an interesting subsidy to apply for and further extend our technological applications," Alejandro confirms.
They opted to apply for AgroInnpulso, a financing line aimed at promoting the digital transformation of companies in the agri-food sector and rural areas. The funds for this line come from the Ministry of Agriculture, Fisheries and Food, and are managed and administered by Enisa con el emprendimiento innovador.