Freight Farms Raises $15M in Series B Funding

USA
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Freight Farms
Freight Farms’ Greenery can produce more than 500 varieties of crops like calendula (pictured) at commercial scale year-round, using 99.8% less water than traditional agriculture. Four rows of panels on a flexible moving rack system house more than 8,000 living plants at once, creating a dense canopy of fresh crops.

Freight Farms, a Boston, MA-based containerized vertical farming company, raised $15m in Series B funding.

The round, which brought total funding to more than $28m, was led by Ospraie Ag Science, with participation from existing investor Spark Capital.

The company intends to use the funds to advance the technical potential of its platform through continued innovation.

Founded in 2010 by CEO Brad McNamara and COO Jon Friedman, Freight Farms provides vertical hydroponic farms for the local production of fresh food. With its integral IoT data platform, farmhand®, the company has a large network of connected farms in the world, with global customers in 25 countries and 44 U.S. states ranging from small business farmers to corporate, hospitality, retail, education, and nonprofit sectors.

FinSMEs

12/02/2020

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