Dutch Urban Farming Startup Infarm Gets Backing From #Qatar Wealth Fund - Bloomberg

Dutch Urban Farming Startup Infarm Gets Backing From Qatar Wealth Fund - Bloomberg

InFarm produces salad greens and herbs in indoor centers across 11 nations. Source: InFarm

Indoor farming startup Infarm raised an extra $200 million from investors including the Qatar Investment Authority to fund a push into new markets such as the Middle East as part of a global expansion.

Infarm grows products like salad greens and herbs in indoor centers in Europe, North America and Japan, and supplies retailers like Amazon Fresh, Metro AG and Marks & Spencer Group Plc. The Amsterdam-headquartered company plans to use the new funding to expand to more fruit and vegetables and to open its first center in Qatar in 2023 as it enters new markets in the Middle East and Asia-Pacific.

Growing crops on vertically stacked shelves in cities has gained traction as the Covid pandemic snarled supply chains and brought food security to the fore, especially in nations that import most of their food. It uses less space, water and pesticides than conventional farming. The food can also be grown closer to consumers, reducing transport needs, but can be much more energy intensive.

Infarm said it has raised more than $500 million -- ranking it among the best-funded vertical farming companies -- and has a valuation of more than $1 billion.