iFarm, a Novosibirsk, Siberia-based startup, has just secured $1 million in a round led by Gagarin Capital – the California-based VC firm founded by Nick Davidov and Mikhail Taver – with participation from individual Russian investors. The details of the deal have not been disclosed.
This agritech startup builds vertical farms, which “use a footprint of land more productively than traditional greenhouses.” It has also designed automated all-year-round greenhouses from 100 to 1000 sq.m. as well as growing trays “for growing greens and strawberry right in your restaurant or grocery.”
iFarm’s first experimental projects were completed in 2017. The next year, iFarm developed vertical farms to grow such short-term crops as strawberries, lettuce and herbs. Two such vertical farms of 500 sq. m. were developed with grocery stores.
This year, iFarm plans to launch a new 3,000 sq. m. project in Novosibirsk, a smaller one in Moscow (100-500 sq.m.), and to experiment its technology on the European market. It will also use the money raised in the recent round to develop further its technology and enlarge its team.
The company has offices or representatives in Novosibirsk, Moscow and Luxembourg.
Sources: Rusbase, iFarm. Read in TechRadar.com an exchange on vertical farming with iFarm CEO Alexander Lyskovsky
