Key Takeaways:
- Robust Investment: Oishii raised $150 million in its Series B round, adding new investors Resilience Reserve and Miyako Capital alongside existing backers, including NTT, Mizuho Bank, and Yaskawa Electric Corporation.
- Innovative Agricultural Solutions: Known for premium, pesticide-free strawberries and cherry tomatoes grown in indoor farms, Oishii incorporates Japanese agricultural technology.
- Sustainable Expansion: The funds will support the construction of a new indoor farming facility in New Jersey and the company’s first international facility in Tokyo.
- Quality-Driven Farming: Oishii emphasizes taste, sustainability, and automation in its innovative approach to vertical farming.
Oishii, a vertical farming startup founded in 2016 by Hiroki Koga, has closed its Series B funding round at $150 million, as announced on AgFunder News. The funding extends its previously completed $134M Series B announced in February.
Bridging Innovation and Tradition in Agriculture
Founded in 2016 and led by CEO Hiroki Koga, Oishii has carved a niche in the agricultural technology sector by adopting Japanese farming innovations to produce premium strawberries and cherry tomatoes in pesticide-free indoor farms. This practice has not only garnered a following among high-end New York restaurants but has also paved the way for the brand’s expansion into luxury grocery outlets, selling at approximately $11 for a pack of six strawberries.
International Expansion
A significant portion of the newly raised funds will be directed towards Oishii’s first international expansion in Tokyo, Japan. The Tokyo facility is expected to meet growing demand for premium, pesticide-free strawberries while promoting food security through localized production.
The company’s flagship product, the Omakase Berry®, has gained popularity in luxury grocery outlets and fine-dining restaurants, retailing for about $11 for a pack of six.
Strategic Collaborations and Sustainable Goals
Among the investors, NTT stands out not only for likely being the lead investor but also for its vested interest in indoor farming research. This collaboration aims to leverage technological advancements for more efficient and effective farming methodologies. Furthermore, partnerships with companies like Yaskawa Electric to develop automation systems reflect a concerted effort towards full automation of farming tasks within the next decade, as reported by AgFunder News.
Oishii Latest News
Introduction of the Oishii Rubī Tomato (2023/12/07)
Oishii has introduced the Rubī Tomato, a unique addition to the produce market. Cultivated in indoor vertical farms in New Jersey, this tomato has a bright red, shiny skin and a juicy center with a unique sweetness. It is available exclusively at Whole Foods in Jersey City. Oishii encourages consumers to share their experiences and thoughts about this new product.
Oishii Introduces New “Koyo Berry” Variety (2023/02/24)
Vertical farming leader Oishii has launched its newest varietal, The Koyo Berry, which is grown hyper-locally in state-of-the-art indoor vertical farms. The Koyo Berry is the second strawberry from Oishii, following the Omakase Berry, and offers a unique flavor profile. The berry is a Japanese cultivar traditionally grown outside Tokyo during winter, characterized by its refreshing sweetness, balanced acidity, fragrant aroma, and slightly firm texture.
Oishii Opens Largest Strawberry Vertical Farm (2023/05/20)
Vertical farming leader Oishii has opened its largest and most advanced farm yet in Jersey City, New Jersey, to grow the company’s famed Omakase Berries exclusively. The new farm was repurposed from a former Anheuser-Busch factory, and each harvest relies on advanced robotics and automation, using 60% less energy and 40% less water. Oishii is expanding its retail footprint to meet the growing demand for its strawberries, which will be available at Whole Foods Market stores. The company is also developing new strawberry varieties and other types of produce.
Photo by Gavin Tyte on Unsplash
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