LGT Lightstone leads €144m round for Infarm

Hanaco, Bonnier, Haniel and Latitude also participated in the round, along with existing investors Atomico, TriplePoint Capital, Mons Capital and Astanor Ventures.

The funding comprises a mixture of debt and equity.

Infarm intends to use the fresh capital to expand its geographical presence and to continue to develop its Internet-of-Things platform. The company said in a statement that it intends to manage farming facilities comprising 5,000,000 square feet in Europe, North America and Asia by 2025. It also aims to reach zero emission food production in 2021.

The round is set to be the fourth largest growth capital deal in the DACH region in 2020, according to Unquote Data, and is the second largest to close in H2 2020.

Previous funding
Following a seed round in 2015, the EU Executive Agency for SMEs provided the company with a grant of €1.9m in 2017.

Cherry Ventures led a €4m seed round for Infarm in June 2017, with participation from Quadia, LocalGlobe, Ideo and Atlantic Food Labs.

In February 2018, Balderton Capital led a $25m series-A funding round for the company. Quadia, Mons Investment, LocalGlobe and Cherry participated, with debt financing provided by TriplePoint. The company also received a grant of €2m from the Horizon 2020 programme in the same year.

In June 2019, Atomico led a €88m series-B funding round for Infarm, joined by Balderton, Cherry and TriplePoint.

Company
Infarm was founded in 2013 and is based in Berlin. The company manages a network of urban farms supplying supermarkets, restaurants and distribution centres, with the aim of providing locally grown produce. The network is managed via a cloud platform that collects data on the produce grown in each farm.

Infarm has partnerships with a number of supermarkets in Europe, the US and Asia, including Marks & Spencer in the UK and Aldi Süd in Germany. It currently operates in 10 countries and 30 cities, and employs 398 staff, according to LinkedIn.

People
Infarm – Osnat Michaeli, Erez Galonska, Guy Galonska (founders).
Hanaco Ventures – Pasha Romanovski (co-founding partner).
Balderton Capital – Daniel Waterhouse (partner).
Cherry Ventures – Christian Meermann (founding partner).
Quadia – Severine Balick (investment manager).

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• Topics
• Expansion
• DACH
• Consumer
• Venture
• Germany
• Balderton Capital
• Atomico