Atomico et al. in USD 200m Series D for Infarm

Also investing were Partners in Equity, Hanaco, Atomico, Lightrock, and Bonnier.

Atomico registered a new fund in August 2021, Atomico VI, which will follow the strategy of its predecessor.

According to a press release, the new capital will support Infarm's expansion in its current markets of the US, Europe, Japan and Canada, as well as help enter new markets in the Middle East and Asia-Pacific.

Unquote sister publication Mergermarket spoke in 2020 to the CFO of Infarm, who said the company is considering bolt-on acquisitions and mergers. It also reported that Infarm could join public markets through an IPO or a listing via a special-purpose acquisition company, but the CFO stated there were no imminent plans to list.

Previous funding
In June 2017, Cherry Ventures led a EUR 4m funding round for Infarm, joined by Quadia, Localglobe, Atlantic Food Labs, Ideo, Demand Analytics and unnamed business angels.

In February 2018, Balderton Capital led a USD 25m Series A funding round with participation from new and existing investors, including TriplePoint Capital, Mons Investments, Cherry Ventures, Quadia and LocalGlobe.

In June 2019, Atomico led a EUR 88m Series B funding round that consisted of equity funding and debt financing. Existing investors including Balderton, Astanor Ventures, Cherry Ventures and TriplePoint Capital also participated in that round. Atomico invested via Atomico IV, which closed on USD 765m in 2017.

Company
Infarm was founded in 2013 and is headquartered in Berlin. The company develops indoor vertical farming systems for restaurants, shopping malls, schools and supermarkets. Using data and AI, it can monitor and control farms from its control centres.

People
Infarm – Erez Galonska (co-founder, CEO).
Qatar Investment Authority – Ebrahim Al-Mahmoud (CEO).
Atomico – Niklas Zennstrom (CEO).

Advisers
Vendor – Goldman Sachs (financial due diligence); UBS (financial due diligence).

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• Topics
• Expansion
• DACH
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• Germany
• Atomico
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