Your Local Greens Lands $500,000 From 20 Investors
Sprouts at Your Local Greens
by Ryan Herron, North Carolina Business News Wire — September 7, 2018.
BURLINGTON — Your Local Greens Partners Inc. has raised $500,000 from 20 investors, according to a filing with the Securities and Exchange Commission.
The Burlington-based company filed a Form D to report the offering but declined to disclose what the funds would be used for.
The initial $600,000 offering by the organic farming company was comprised of a combination of debt and equity and has a duration of less than one year. It still hopes to raise an additional $100,000.
The company was founded by its current chief executive officer, Douglas Calaway, in 2015.
Your Local Greens establishes local indoor controlled environments to grow its crops. By doing so, it is able to increase the yield of its crops while using fewer natural resources to produce pesticide-free greens.
It is in the process of developing a hydroponic vertical farming building in the Raleigh-Durham area.
A hydroponic farm uses water to grow plants indoors, which allow it to grow crops at all times of the year. While a vertical farm grows plants in vertically stacked layers to maximize the use of space in an indoor farming facility.
“Live Better Than Organic”