6th October 2022
Regenerative agriculture AgriHub
Controlled Environment Agriculture Corporate International

12 CEA Companies Awarded in The AgTech Breakthrough Award

AgTech Breakthrough Award

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AgTech Breakthrough Awards program is devoted to honoring excellence in agricultural & food technologies, services, companies, and products around the world. The AgTech Breakthrough Awards program provides a forum for public recognition around the achievements of AgTech companies and solutions in categories including farm management, indoor farming, FoodTech, automation, IoT and robotics, FoodTech, analytics, and more.

This year, 12 controlled environment agriculture (CEA) companies were awarded an AgTech breakthrough award out of 74 awarded companies, these CEA companies represent nonetheless:

In total funding, these 12 companies represent more than USD 1.55Bn raised over time with indoor farming companies Plenty, representing the vast majority with USD 941 million raised over the years (The most recent is a USD 400 million Series E on the 25th of January). As seen in the second graph, the prevalent majority of the funding raised was done in the USA as the American companies raised USD 1.5Bn.

US-based companies represent 64% of the nominated indoor farming companies, the other 36% represent companies from Mexico, Canada, the UK, and Belgium.

The awarded companies and their recent news: 

  • IUNU: Farm Management Company of the year

Revol Greens, America’s largest greenhouse lettuce grower, announced in June that it has chosen IUNU as its technology partner to deliver a fully integrated approach of artificial intelligence, digital solutions, and automation at scale to meet rising consumer demand for greenhouse-grown leafy greens.

Cambridge Trust Company, a subsidiary of Cambridge Bancorp (NASDAQ: CATC), has provided $12 million in debt financing to Freight Farms to expand its product offering and pursue its growth objectives.

Carbon Book has recently launched its flagship product — an easy-to-use software tool of the same name, that empowers indoor farms to become more sustainable and productive. This new product helps indoor farmers, retailers, and input providers measure, document, and improve their carbon footprints.

CubicFarm® Systems Corp. (TSX:CUB)announced the preliminary results of its methane and carbon dioxide-equivalent reduction study and beef finishing carcass study. The Company also provided updates related to the Company’s HydroGreen division and previously announced carbon commercialization program and a corporate update.

  • AgBotic: Greenhouse Production system of the year

Agbotic Inc. and its European subsidiary Agbotic Limited based in Dublin, Ireland, announced recently the completion of planning approval for their first European SmartFarm.

Upward Farms unveiled the plans for a 250,000-square feet aquaponic vertical farm in Northeastern Pennsylvania’s Luzerne County, the facility is set to open in 2023.

AgTech specialist Light Science Technologies (LST) has announced two new appointments to its team to continue advancing its strategy of growth.

  • Plenty®: Overall Indoor Farming Solution of the year

Walmart and Plenty Unlimited Inc. announced that Walmart signed an agreement to invest in Plenty, an indoor vertical farming company, as part of their $400M Series E funding round. Walmart’s equity investment is part of a broader strategic partnership to use Plenty’s indoor, vertical farming technology platform to deliver fresh produce to Walmart retail stores. Upon the close of the investment, a representative of Walmart will join Plenty’s Board of Directors.

  • Atarraya: Overall indoor farming solution provider of the year

Atarraya, the creator of Shrimpbox, a sustainable “plug-and-play” shrimp farming technology, is swimming to the surface after being in stealth mode since 2019. The Mexico City-based company emerges with new funding, $3.9 million in Series A dollars, and a new U.S. headquarters in Indianapolis. View the rest of the interview here.

Urban Crop Solutions and Siemens Financial Services have launched a program whereby, under certain conditions, its customers can benefit from a financing option offered by Siemens Financial Services.

  • Iron Ox: AgTech Startup of the year

The City of Lockhart recently approved incentives for local expansion by Iron Ox, a farming innovation company with deep expertise in plant science, robotics, and artificial intelligence. The incentives package includes a grant for utility construction at the company’s planned one-million-square-foot facility on 85 acres on Commerce Street. The project will bring jobs, revenues, and other benefits to the City.

  • Aerofarms: Vertical farming company of the year

Governor Glenn Youngkin announced in a recent press release that AeroFarms, a Certified B Corporation and world leader in indoor vertical farming, will create sixty-six additional new jobs and increase production of freshly-grown leafy greens as part of a major operational expansion of its new vertical farm in Pittsylvania County. This farm, a 138,670 square-foot, state-of-the-art facility, would be considered “the largest in the world of its kind”. These new hiring commitments are in addition to the 92 jobs pledged previously to be located in Cane Creek Centre, a joint industrial park owned by the City of Danville and Pittsylvania County.

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