Freight Farms raises $17.5M series B3 funding

Freight Farms raises $17.5M series B3 funding

Freight Farms, the world's leading manufacturer of container farms, announced today its $17.5M Series B3 funding round co-led by Aliaxis SA, a world leader enabling access to water and energy through inventive fluid management solutions; and Ospraie Ag Science, a leading investor in cutting-edge AgTech companies providing smarter, more sustainable agriculture solutions. The funding will support Freight Farms as it expands its mission to empower anyone to grow food anywhere through its line of versatile, modular, and easy-to-use container farms and farm automation software. The round was also supported by Spark Capital, Stage 1 Ventures, and Alkaline Partners.

Freight Farms develops vertical hydroponic farms in shipping containers, with the goal of creating resilient and self-sufficient communities that can grow fresh, local, and healthy food 365 days a year. As a provider of farms for independent purchase and ownership with containers currently operated by customers across 39 countries, the company has created the largest connected network of farms in the world. Freight Farms' global customers range from small business owner-operators to the corporate, hospitality, retail, education, and nonprofit sectors. Compared to other major players in vertical farming, this unique distributed model allows Freight Farms to better target areas where the impact of fresh food is greatest — including food deserts and challenging geographies and climates, like Alaska, the Caribbean islands, Scandinavia, and Egypt. The company's growing technology gives communities like these access to fresh produce while offering a more sustainable, higher-yield growing method compared to traditional agriculture.

"These investments from leading AgTech investors further reinforce the importance of Freight Farms' mission to use container farming technology to address systemic challenges within our food and agriculture systems and their repercussions on our environment," said Rick Vanzura, CEO of Freight Farms. "We are honored to have the continued financial support of Ospraie and a new strategic partner in Aliaxis, both exceptional leaders in sustainable solutions."

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Source and Photo: Freight Farms 




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