Investment & Fund Management

Infarm, a Berlin-based company founded in 2013, faced significant challenges in addressing the environmental impact of food transportation and spoilage. With food traveling approximately 1500 km and one-third being spoiled before reaching consumers, Infarm sought to revolutionize urban agriculture by growing food closer to consumers. Their innovative approach involved developing intelligent hardware and software solutions for vertical farming, specifically targeting leafy greens, herbs, lettuces, and microgreens. This method not only reduces energy waste associated with transportation and refrigeration but also minimizes the need for pesticides and fertilizers.

To overcome the high costs associated with the complex technology and substantial R&D investments required for their vertical farming units, Infarm initially secured an EU grant in 2016. This funding was crucial as it allowed them to develop their product and reach the proof of concept stage, while also serving as a form of accreditation that attracted further investment. Following the grant, Infarm received significant equity investments from major venture capital firms, Cherry Ventures and Balderton Capital, both of which were backed by the European Investment Fund (EIF) under the EU’s Investment Plan for Europe. This financial support enabled Infarm to advance their product development and scale operations, leading to the hiring of nearly 150 employees.

The results of Infarm's efforts are notable. The CO? footprint of a lettuce grown by Infarm in Berlin is just 0.35 kg, compared to up to 3.7 kg for imported lettuce. This significant reduction in carbon emissions highlights the environmental benefits of their urban farming model, which is now expanding to cities like Paris, Zurich, London, Amsterdam, and the USA.