Vertical Farming Firm Secures £4m In Seed Funding
The London Company Uses Technology To Grow Plants In A Technique
Known As ‘Vertical Farming’
Alistair Hardaker 8th Oct 2019
An example of a 'vertical farm'
London FoodTech firm Vertical Future has secured £4m in a seed round designed to power its sustainable food production technology.
The firm’s technology allows for the growing of primarily baby leaf vegetables and herbs in a controlled, indoor environment.
The method has been developed with a vision to improve health and reducing CO2 emissions in ‘plant factory’ sites in London Fields and Mayfair, with a new development in its existing Deptford site.
Its new funding will support the first phase of the firm’s growth strategy – increasing crop production at these sites, with a target of a ten-fold increase in its B2B restaurant business alongside expansion into a B2C model under its MiniCrops brand.
Its more than 100 existing clients include Chop’d, Tom’s Kitchen and Mindful Chef.
Jamie Burrows, founder and CEO of Vertical Future, said the raise follows several years of hard work.
“Today’s raise validates our growth strategy and strong position in the London market, furthering our mission to improve the food and health of urban inhabitants, starting in London,” he said.
Ben Prior, CEO of Earthworm, added: “Vertical farming offers huge potential in solving one of the biggest issues of our time – how to feed a growing population sustainably.
“We are really impressed with Jamie’s vision and work ethic, and the team at Vertical Future has a very special business poised for growth.”
The technique’s popularly was recently bolstered after Ocado invested £17m into its own vertical farming venture.