US: Oishii bags $134 million in funding

Oishii, a vertical farming company, has bagged $134 million in Series B funding. The funds will be used to accelerate Oishii's growth, opening a solar-powered facility, expanding distribution to new markets, and continuing to invest in advanced robotics and energy-saving innovations.

"It's beyond rewarding that our investors and our consumers see the value in Oishii. Our business has never been stronger. It's a signal that people believe in what we're building at Oishii – and that the indoor vertical agriculture industry is here to stay and is being recognized as a contributor to the larger conversation on food security and quality," Hiroki Koga, CEO and co-founder of Oishii shared with VerticalFarmDaily.

"This capital will help us pave the way for mainstream adoption of vertical farming in the U.S., and we're grateful to welcome many new partners to the Oishii family who share our vision of a sweeter future."

Pushing for R&D in 2024
"We're always trying new things at Oishii, and we're excited for what's to come shortly. We launched our Rubi tomato at the end of 2023 which was a great moment for our team. Our R&D and plant science teams are the best in the world and leading the charge to expand on the success of our Omakase and Koyo berries," Hiroki shared.

"I can't share much more right now but we're deep in the works on what's next."

The Omakase- and Koyo berries

Investors
The funding round was led by Japan's telecommunications company NTT, the round also attracted a diverse group of investors with deep expertise in food tech, sustainable agriculture, and automation. New investors include Bloom8, McWin Capital Partners, Mizuho Bank, Mitsubishi Shokuhin Co., Ltd., the Japan Green Investment Corporation for Carbon Neutrality (JICN) - a fund established by the Japanese Ministry of the Environment, and respected industrial robotics company Yaskawa Electric Corporation.

"While many in the industry prioritize short crop cycles and unrelenting expansion, Oishii has bucked all trends by emphasizing taste over timelines and profitability over proliferation. We are confident that Oishii will be a great partner to take on the challenges for the future of agriculture," said Akira Shimada, President and CEO of NTT.

Oishii has raised a total of $189 million since its founding in 2016. Nomura Securities Co., Ltd. provided financial advisory services to Oishii.