Swedish Agtech Startup Urban Oasis Raises €1M Funding To Build Its First MegaFarm
Swedish agtech startup Urban Oasis claims to build the food production platform for the 21st century. The company started as a pilot project in 2017 with the mission to provide the city of Stockholm with affordable and sustainably-grown food products through indoor vertical farming technology. Currently, Urban Oasis’ leafy greens such as Kale, PakChoi, and Lettuce can be found at major Swedish retailers including ICA, COOP, and online grocer MatHem.
Funding to build MegaFarm
In a recent development, Urban Oasis pocketed 10.5M SEK (nearly €1M) funding from both existing and new investors. The company plans to use the funding to build its first MegaFarm and expand its production capacity by 15-20 times. The construction work for this facility has already started and is expected to be operational by the end of 2020.
The MegaFarm will be powered by GreenOS, which is an automation software developed in-house. MegaFarm One will demonstrate the capability to optimally grow a large variety of crops in a single controlled production facility.
The investors in the company include Family Offices Pelarhuset and Anteeo, along with Yobi Partners Ltd, led by Toni Nijm and Charly Nijm.
Indoor vertical farming tech!
Urban Oasis was founded by Albert Payaró Llisterri and Lasse Kopiez in Stockholm Since its inception, the Swedish agtech startup has successfully scaled production at the pilot facility underneath an apartment complex in central Stockholm. Previously, this space was home to the Swedish Wine and Spirits Corporation’s storage and production facility. Now, it is owned by a Swedish real estate company GreenGroup, which is also an Urban Oasis partner.
“We are rethinking the way food is produced and consumed. Today Sweden imports more than 25 BSEK (€2.4B) worth of greens and vegetables from abroad. Growing produce where people live not only decreases transportation and climate impact, it also increases the freshness, taste and nutrition of the greens and vegetables. By leveraging the latest technology, we are building the food production platform for the 21st century,” says CEO and co-founder Albert Payaró Llisterri.
Main image picture credits: Urban Oasis
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