29th November 2022
AmplifiedAg Vertical Farm Container
Americas Corporate Funding Round

Elevate Farms Nets a USD 19M Funding From Brightspark Capital

Elevate Farms Funding

Elevate Farms Inc. announced the company has ‎raised in excess of C$26 million in 2022 (USD 19M) consisting of equity and secured project finance through a series of investments worldwide. The Financing was again anchored by long-time supporter, Brightspark Capital Inc., a veteran venture ‎capital firm based in Montreal and Toronto, Canada, and represented on the Elevate Farms Board ‎by founding Partner Mark Skapinker.‎

Amin Jadavji, the CEO, of Elevate Farms, stated “Brightspark’s return as a significant investor in our most ‎successful period of fundraising, along with the election of Douglas Janzen to our Board at the last ‎meeting of shareholders, speaks to the exceptional growth of profile and institutional support, both ‎internally and externally, Elevate has received in the capital markets industry. We are now exceptionally ‎well capitalized and buoyed by outstanding institutional backing through commercial and corporate ‎governance expertise.”

‎‎”The farming industry is going through massive changes as the effects of weather change, ‎standardization and modernization are rapidly becoming reality,” said Mark Skapinker, Partner at ‎Brightspark. “Elevate Farms’ solution addresses the market need and its unique approach sets ‎it up for market leadership. We are very excited by the prospects of the company.” ‎

Also, on September 20, 2022, Elevate took part in signing the Vertical ‎Farming Manifesto highlighting the impact and contribution the industry intends to make to transform ‎current food systems and help to solve one of humanity’s toughest challenges of providing food for a ‎growing population in a sustainable, circular way. Amin Jadavji, noted “Elevate Farms has been ‎committed to developing food production systems designed to produce a high volume of leafy greens ‎at a competitive cost.  We are excited to be part of the solution to use emerging technology in order to ‎feed people for a sustainable future.”‎

Image provided by Elevate Farms Inc.

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