Infarm, a Germany-based indoor farming network operator backed by design agency Ideo and data analysis software provider Demand Analytics, has received $100m in a series B round led by investment firm Atomico.
Venture capital firm Balderton Capital and VC fund Cherry Ventures also participated in the round, as did Astanor Ventures and TriplePoint Capital, according to VentureBeat.
Founded in 2013, Infarm provides big data-powered modular urban farms that allows users to grow fresh produce in any small space, including a restaurant kitchen or supermarket, as opposed to being supplied by a centralised warehouse or farm.
The company has partnered with food retailers in Germany, Switzerland and France, and has more than 200 in-store farms in operation.
The cash will support the growth of InFarm’s research and development, operational and commercial teams, in addition to international expansion. It plans to launch in the UK later this year and is in advanced discussions with retailers in the US and Japan.
InFarm has now raised $135m altogether. Cherry Labs led the company’s $4.5m seed round in mid-2017, investing alongside Ideo, Demand Analytics, Quadia, LocalGlobe, Atlantic Food Labs and several angel investors.
The company then secured $25m in a February 2018 series A round led by Balderton and backed by TriplePoint Capital, Mons Investments, Cherry Ventures, Quadia and LocalGlobe. It has also received $2.5m from the European Commission’s Horizon 2020 initiative.