Elevate Farms announced the closing of a $1.8M funding led by Brightspark Ventures. Elevate Farms’ system aims to deliver a product that is larger, tastes better, and has higher nutritional content than traditionally-grown leafy greens.
“Elevate Farms represents the next generation of indoor farming: their system solves some of the biggest problems the first wave of vertical farms experienced” says Mark Skapinker, Managing Partner at Brightspark Ventures. He continued, “their edge is their ability to cost-effectively create a tasty and nutritious product - and grow it at a mass-market scale. We invested because we saw meaningful potential, being a team of world leading experts that can execute, proven technology, and true science being applied into a massive marketplace.”
Elevate Farms commercially implements an automated climate-controlled environment for plant-production that utilizes less labour than other indoor farms.
Amin Jadavji, Elevate Farm’s CEO stated: “With the new funding, the company is now ready to scale significantly. This financing will allow us to execute on our currently secured flagship facilities in New Jersey and Niagara, each projected to produce in excess of one-million pounds of leafy greens annually.” Mr. Jadavji continued: “The funding will also fuel our plans to scale the business, grow our team, build and secure new and existing IP, prepare for business partnership opportunities, as well as finalize initial major orders and operational financing.”
Travis Kanellos, Elevate Farm’s Chief Strategy Officer added: “This is a major milestone for our North American operations. It also allows us to forge ahead on our global partnerships, as well as execute our global plan to build out facilities internationally over the next 12-months.”
For more information:
www.elevate.farm
www.brightspark.com