Technology startup raises $2 M in round led by TitletownTech

14-09-2021    09:43   |    Wisconsin Inno

Green Bay agriculture technology startup Fork Farms LLC closed a $2 million Series A round led by Green Bay venture capital firm TitletownTech, according to an Aug. 31 announcement.

Fork Farms is known for its indoor vertical hydroponic growing system called the Flex Farm, designed to make fresh food production highly cost-efficient and energy-efficient. It will use the financing to expand to new markets, hire more employees, and develop new and existing products, according to the announcement.

The Flex Farm is in use in 31 U.S. states, Fork Farms vice president of marketing Lalu Beré said. The company has 11 full-time employees.

With nearly 500 partners, the company's primary customers are schools, health care organizations and nonprofits, including the University of Wisconsin-Oshkosh and the Marshfield Clinic Health System. The Flex Farm can also be used by other businesses and home growers.

In Milwaukee, the Flex Farm has been used by Maryland Avenue Montessori School, Whitman Elementary School and Friedens Community Ministries food pantries. As it grows, Fork Farms plans to expand its foothold in Milwaukee and Chicago, Beré said.

Fork Farms founder and president Alex Tyink. Credit: Fork Farms LLC

Fork Farms was founded in 2012 by Alex Tyink, who serves as president. Flex Farms are designed to grow leafy greens and herbs, but partners have also grown strawberries, cucumbers, peppers, tomatoes and pumpkins, according to the company's website. The Flex Farm is priced at $4,695.

TitletownTech previously invested in Fork Farms, as announced in August 2020. Fork Farms raised a $750,000 seed round in 2018, according to its website.

“We have continued to be impressed with the value and impact they provide their customers," TitletownTech managing director Craig Dickman said in an Aug. 31 statement. "We believe the growth and success they’ve seen is just the start of the journey to come.”

Other institutional investors also participated in the Fork Farms Series A round, according to the announcement.

The Gen 4 Flex Farm. Credit: Fork Farms LLC

Header Photo: The Flex Farm hydroponic growing system. Credit: Fork Farms LLC
Source: Wisconsin Inno

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