Urban Agriculture Giant Infarm To Reap $250m From Next Fundraising
The Company, Which Has A Partnership
With Marks & Spencer,
Is Working With Goldman Sachs, Sky News Learns
Infarm says it is the fastest-growing urban farming firm with interests including 'cloud-connected growing centres'.
Infarm, one of the world’s fastest-growing vertical farming companies, has picked bankers to line up a mammoth fundraising that will underline burgeoning investor interest in the sector.
Sky News has learnt that Infarm has hired Goldman Sachs to oversee its biggest funding round to date, just five months after raising $170m from a syndicate of blue-chip backers.
Sources said the latest financing was likely to kick off in the coming weeks and would be completed later this year.
Infarm has a partnership with M&S
It is expected to crystallize the so-called 'unicorn' status for Infarm - meaning it would join the crop of European technology companies worth at least $1bn.
Infarm, which is based in Germany, is targeting a vertical farming network of 5m square feet by 2025, it said in a statement last year.
The company is one of a breed of start-ups attempting to address food supply problems, some of which have become particularly intense during the coronavirus pandemic.
Unlike its rivals, Infarm installs modular 'mini-farms which are located within supermarkets and restaurants.
