Elevate Farms announced that it has closed on C$6,720,000 in its pre-Series B equity financing round (the "Financing"). The Financing was undertaken to support the expansion of Elevate Farm's recently acquired Fieldless Farms facility in Cornwall, Ontario, to expand their mission for promoting food sovereignty by reducing Canada's dependence on imports.
The Financing will support increased production capacity, the introduction of new packaged leafy-green products, and expanded distribution with Canadian retail partners. Elevate Farms continues to advance its mission of developing scalable indoor agriculture solutions designed to increase local food production and strengthen supply chain resilience in the fresh produce sector.
"This Financing enables us to scale production at our Cornwall facility and expand the Fieldless Farms brand with new products and additional retail partners," said Amin Jadavji, Chief Executive Officer of Elevate Farms. "We believe locally produced leafy greens represent a significant opportunity to improve supply chain resilience while reducing the environmental footprint associated with long-distance food transportation."
Amin continued: "Canada imports more than 85% of its leafy greens, making it one of the largest importers of lettuce globally. Much of this produce travels over 4,500 kilometers before reaching Canadian consumers. As consumer demand for fresh, convenient and sustainably produced foods continues to grow, local indoor agriculture offers the potential to shorten supply chains while improving product freshness, thereby reducing transportation impacts as well as food waste."
For more information:
Elevate Farms
Amin Jadavji, CEO
[email protected]
www.elevate.farm
