Future Crops, an Israeli-Dutch fully automated indoor vertical farm provider, raised an undisclosed amount in funding.
The round was led by Tencent.
The company intends to use the funds to expand its capacities to meet demand, continue to increase its R&D capabilities and develop proprietary technology.
Led by CEO Gary Grinspan, Future Crops has established a fully automated indoor vertical farm in Westland, Netherlands. The facility is equipped with high-precision agricultural technology and creates optimal climatic conditions to suit each crop. It markets fresh herbs grown and processed in a multistory indoor vertical farming system. The crops are grown in a soil-based substrate developed by the company to be as close as possible to nature. The platform can grow a comprehensive range of herbs and leafy greens all year long, without pesticides or biological substances, and in climate-protected conditions.
Future Crops maintains a strategic partnership with Israel’s Agricultural Research Organization (ARO) and closely collaborates with Wageningen University.
Future Crops had already raised over $30 million in seed funding from a private equity arm run by the Lerman Family, leaders in the American steel industry to finance the construction of the facility and to build their team of experts.
FinSMEs
14/03/2022