Vertical Farming Startup Oishii Raises $50m In Series A Funding

By Sian Yates

03/11/2021

Oishii, a vertical farming startup based in New Jersey, has raised $50 million during a Series A funding round led by Sparx Group’s Mirai Creation Fund II.

The funds will enable Oishii to open vertical strawberry farms in new markets, expand its flagship farm outside of Manhattan, and accelerate its investment in R&D.

“Our mission is to change the way we grow food. We set out to deliver exceptionally delicious and sustainable produce,” said Oishii CEO Hiroki Koga. “We started with the strawberry – a fruit that routinely tops the dirty dozen of most pesticide-riddled crops – as it has long been considered the ‘holy grail’ of vertical farming.”

“We aim to be the largest strawberry producer in the world, and this capital allows us to bring the best-tasting, healthiest berry to everyone. From there, we’ll quickly expand into new fruits and produce,” he added.

Oishii is already known for its innovative farming techniques that have enabled the company to “perfect the strawberry,” while its proprietary and first-of-its-kind pollination method is conducted naturally with bees.

The company’s vertical farms feature zero pesticides and produce ripe fruit all year round, using less water and land than traditional agricultural methods.

“Oishii is the farm of the future,” said Sparx Group president and Group CEO Shuhei Abe. “The cultivation and pollination techniques the company has developed set them well apart from the industry, positioning Oishii to quickly revolutionise agriculture as we know it.”

The company has raised a total of $55 million since its founding in 2016.

Advice For New Vertical Farmers: Grower Spotlight on Andrew Worrall

Last week we spoke about running a farm at LettUs Grow. What excites you about vertical farming? 

It’s the future of the industry. Also, the amount of salad that these farms can produce for their local community. We want to be able to eat salad all year round and we import to make that happen. However, just a small farm can easily provide for its local community, very efficiently and all year round. The sustainability element is also exciting: with our salad there’s no food miles, it’s very minimalistic. You could use an electric van or bike to distribute this crop if you wanted to. It’s a step forward in terms of what we need to do to take care of our planet. 

What do you think are the biggest downsides to vertical farming?

It’s still a new technology and it can be expensive. The biggest roadblock facing the industry is that we need more people and companies to collaborate together to make sure we can build these farms at a sensible rate, so we can provide farms to anyone. We want to be able to provide farms to people, communities and countries that don’t have a lot of money, so that they can provide affordable fresh produce to local people. 

How has vertical farming impacted your life?

Massively!  I wanted to find my passion, a job that I loved - that was very important to me. It’s satisfying to be in a position now where I’m very happy to be doing what I do and I look forward to going into work. I was happy to make the move from London to Bristol. I would have moved even further if it meant being able to continue working within this industry.

Image from: LettUs Grow

How do you see vertical farming playing a part in the future? 

When indoor farming first came about, it had a reputation of being competition for outdoor farming, which just isn’t the case. There’s so much we can’t grow that outdoor farming can provide, such as cereal crops. I’m glad we’re at a stage where indoor and outdoor farms can start to work together to optimise both methods. With these new relationships, there should be a good increase in the amount of indoor farms you’ll be seeing. What LettUs Grow offers with DROP & GROW™ is an exciting project because that’s a 40ft shipping container which can be placed pretty much anywhere. It’s not that big - it could go in a car park or behind a restaurant, but actually provide quite a lot of salad to that area. 

How much of our food should be grown this way? 

Good question. If you had asked me a while back I would have just said salad, but now I’ve changed my mind. Indoor farming can have a massive impact on propagation, especially aeroponics, because of how we aerate and nourish our roots. We could start lettuce for greenhouse projects and we can also propagate tomatoes, strawberries and tree whips. Propagating trees in this way could potentially be hugely beneficial and it’s something we want to do more of. 

We can also quickly grow large amounts of microgreens, baby leafs, herbs and we can grow fruiting crops like strawberries. We are slowly chipping away and it’s really exciting. I’m waiting to see if I can ever say I’ve grown or propagated every crop that can be grown in these farms! 

What do you think are the biggest benefits of vertical farming? 

How fast these crops can grow! The turnover can be as short as 5 days from seed, depending on the crop. Also how clean it can be - I’m very dedicated to making sure these farms are built to ensure they are easy to be maintained and clean. The most exciting part is the crop growth rate though - it’s incredible how fast our crop grows from seed to plate. In a very well maintained growing calendar, which Ostara® is great for supporting, you can optimise your beds so that the day you harvest can also be the day you germinate onto that same bed. Your farms can be forever providing salad at very fast rates. 

Image from: LettUs Grow

What was the biggest change you encountered during your years indoor farming?

Moving from being a production grower to an R&D grower. It has been a great change! As a production grower I knew what I needed to know about growing the plant safely and getting it onto a plate so it was good for the consumer. Now I’m fully optimising, learning and understanding the plants completely, so that I can help the grower that I used to be. We spend a lot of time on crop recipes to make sure that whoever we sell our farms to can start up very quickly and they won’t have to spend months developing their crops. If they have the customers and clients behind them, they can buy DROP & GROW and start producing salad as soon as it's been commissioned. 

What was the biggest change you encountered in the industry?

More and more people are speaking about what’s going on in the industry and getting involved. I get so many messages on LinkedIn with people who want to get into this career. It’s exciting to see that indoor growing is a career people can access now. When I was developing my skills I didn’t know I would end up in indoor farming. There are more opportunities than ever before. For example, our Crop Technician is doing a placement here for 2 years. The aim is that they can gain the skill sets and knowledge they need to then go off and do the same practice in any farm they want. 

What advice do you have for people who are looking to start a career in growing? 

Reach out to companies who are already out there. You could start off part-time or as an assistant. If you are patient and dedicated then it’s a journey I promise you won’t regret. It takes a lot of work, but the outcome is amazing - you’ll be learning so much about this new technology. You’ll also build great relationships: there are so many amazing people in this industry who are so interesting, with different backgrounds, who are willing to share their knowledge. You can always learn more and other people are a great source of that. 

What about for those looking to start a vertical farming business?

Do your homework.  There are people out there who you can reach out to and it’s very easy to get information. It’s very easy to get excited about the idea and jump straight into it, because it is exciting and can be very rewarding, but it’s really important to do it step by step. Know how to scale properly, learning the differences between a small and larger farm. Understand how many people you’ll need and the logistics. I’d also advise people to get some practical work experience before you buy. You want to start the company knowing the tricks of the trade. 

Image from: LettUs Grow

LettUs Grow Blog: www.lettusgrow.com/blog/advice-for-vertical-farmers

Grand Rapids Next-Gen Farmer Cohort 2019 - 2020

Square Roots | 10.16.19

Next-Gen Farm / Farmers / Program / Perspectives

Each year, a new cohort of farmers participates in the Next-Gen Farmer Training Program, taking a step along their journey to becoming leaders in urban farming. Here’s a glimpse into why they’re drawn to urban agriculture.

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Michigan Next-Gen Farmers: Alyssa Patton, Amal Jennings, Savie Sonsynath, Winn Hermanski, Rebekah Box, Jarad Jaent, Katie LaRue, Jacob Smaby, and Joshua Van Kleeck

Rebekah Box

(@_farming_nomad)

“My family has a history of farming. My grandparents were sweet corn farmers and I grew up gardening with my parents every summer. After moving into my first apartment, I quickly realized that having a garden of my own was going to be far from easy. I was determined to make access to fresh, locally grown food easier for those in similar situations. With this, my love for gardening and educating others on how to grow their own food has flourished and given me a clear path to a future career. While job searching, I came across the application for the Next-Gen Farmer Training Program at Square Roots in Grand Rapids, Michigan. From their mission statement and further research, I knew that this was the perfect opportunity to help others in urban areas and to gain the skills and knowledge needed to educate future generations.”

Winn Hermanski

(@winn.hermansk)

“While studying at the University of Oklahoma’s Entrepreneurship and Venture Management program, I developed a business plan to create affordable housing and job opportunities for the homeless. Shipping containers would be retrofitted to create tiny homes and a hydroponic farm to sustain the community. While working on this business, I discovered Square Roots and felt like the company was poised to disrupt the broken agricultural system.”

Katie LaRue

(@travelinglarue)

“While in college, I had the opportunity to study abroad in Costa Rica where I fell in love with food. There were markets at every corner, meals were prepared with real food, and meal times were respected in the home and at the workplace. I later moved to Stuttgart, Germany to pursue a Masters in Sustainable Agricultural Food Production. I learned the inner workings of what it takes to feed a growing population sustainably and found Square Roots after moving back home to Michigan. I hope the Next-Gem Farmer Training Program will enable me to continue disrupting the current food system.”

Savie Sonsynath

(@savevone)

“Born and raised in Michigan, I’m a first-generation Lao-American. It’s a culture centered around food and community, and I see a lot of value in integrating my two cultures. While pre-med at Ferris State’s Biology program, I discovered the importance of nutrition on human health. This, paired with my strong cultural foundation, lead me to seek a platform to engage the public about food choice. Square Roots’ mission to connect people with real and local food deeply resonates with me, and I plan to use this opportunity to connect with the community over the healthy food options available.”

Jacob Smaby

(@jacobsmaby)

“As an educator at heart, I started my career studying to be a high school English teacher at Grand Valley State University. After spending time working with kids in the public school system, I realized my true passion is teaching future generations about environmental issues. With the knowledge gained through the Next-Gen Farmer Training Program, I hope to inspire upcoming generations to change the way we feed our cities and communities.”

Jarad Jaent

(@jaradjaent)

“I grew up in the West Michigan area and spent most of my time camping, hiking, and exploring nature. My passion for the outdoors became something that I wanted to pursue a career in. Throughout my experience at Hope College, I struggled to imagine how a business degree with biology and environmental science minors could lead to the career I wanted. After meeting the cofounder of H.O.P.E Gardens and helping the non-profit establish gardens at elementary schools in the Grand Rapids area, I realized that urban agriculture was something I wanted to be a part of. I'm excited to join the Next-Gen Farmer Training Program and can’t wait to see what doors it opens in the future.”

Joshua Van Kleeck

(@vankleeckjoshua)

“Born in Michigan, I grew up raising fruits and vegetables with my brother to sell at our roadside stand and local farmer's markets. I developed a passion for horticulture and business and went on to study business at Northwood University. In college, I discovered Square Roots and was immediately intrigued, thinking it could be an amazing fit. When I heard Square Roots was coming to Michigan, I jumped on the opportunity to join the Next-Gen Farmer Training Program in this pioneering endeavor.”

Alyssa Patton

“Throughout my childhood, I was surrounded by farmland in Allegan, Michigan. My family even had a small garden with chickens. Soil farming was all I had known until my internship with Hunger Education and Resource Training where I was exposed to aquaponics, sustainable agriculture, and rooftop gardens. I began to question how people in cities could grow or have access to fresh food and I developed a passion for community development and farming. I couldn’t be more excited to join Square Roots in its endeavor to bring fresh, local produce to cities."

Amal C. Jennings

(@squarerootsgrow.lens.amal)

“While studying chemical engineering at the University of Oklahoma, I developed an interest in environmental stewardship and sustainable practices. I started working for Provision Organic Farm in Oklahoma City and later went on to work for CommonWealth Urban farms of OKC. After seeing the many challenges that small, organic, urban farmers face, I turned my interest to climate-controlled indoor farming and found the Square Roots Next-Gen Farmer Training Program.”

Learn more about our Next-Gen Farmer Training Program.