Key Takeaways
- Series B Funding: Agrourbana, a Chilean vertical farming company, raised $6 million in a Series B round led by ALB Investments.
- Prominent Investors: The investment round included notable figures like Juan Andrés Camus, Amarena, and Maximiliano Ibáñez, along with previous investors.
- Scaling Challenge: Agrourbana aims to scale its production significantly, multiplying it by 20 times within three years.
- Market Presence: The company currently supplies major chains and restaurants, is reaching maximum capacity, and plans to expand its facilities.
- Sustainability and Innovation: Agrourbana focuses on sustainable farming using minimal resources and advanced technologies.
Agrourbana’s Latest Funding To Grow
Diario Financiero recently reported that Agrourbana, a leading vertical farming company based in Chile, secured $6 million in a Series B funding round. This investment was led by ALB Investments, with participation from prominent investors, including Juan Andrés Camus, president of the Stock Exchange, Amarena, and Maximiliano Ibáñez from Córpora. Previous investors also contributed.
Scaling for the Future
This new injection of capital marks a critical juncture for Agrourbana. While the company has made significant strides in vertical farming, it is not yet profitable. The CEO highlighted the importance of scaling, stating to Diario Financiero, “In three years, we are going to multiply our production 20 times.”
Currently, Agrourbana is operating at maximum capacity. They occupy 400 m² of their 4,000 m² facility, and in the coming months, they plan to utilize the entire space, creating what they describe as “lettuce forests” equivalent to 20 hectares. This expansion is essential in a market that spans at least 70,000 cultivated hectares.
Market Presence and Expansion
On LinkedIn, co-founder Christian Sjögren shared the company’s excitement about this new phase, stating, “We are happy! Today, we are starting a new stage with new partners. We are going to expand our plant in Quilicura to five times the current capacity and incorporate new technologies to reach more Chileans with our AMAZING vegetables, using 99% less soil, 95% less water, all year round, without losses, without pesticides, in the city, and without washing.”
Commitment to Sustainability
Agrourbana’s commitment to sustainability is a cornerstone of its operations. Using significantly less soil and water sets a new standard in urban agriculture. Its innovative approach allows it to produce high-quality vegetables year-round without pesticides and with minimal waste.
Reflecting on the Journey
Reflecting on the company’s journey, Sjögren noted, “It’s been six years since we started Agrourbana. It’s not possible to condense the entire story in one note… it’s more for a book. It hasn’t been easy… so many things have happened, but they have all contributed to bringing out the best in the team.”