Vertical Future plots dominance of controlled farming sector

The London-based vertical farming scale-up is now valued at Ł100m, with its fundraiser attracting established names in the finance and retail industry such as Pula Investments, Nickleby Capital and Dylan Investors.

The company's second largest shareholder SFC Capital also participated in the round.

Commenting on the fundraiser, Vertical Futures' chief executive Jamie Burrows told City A.M. the fundraiser had been a "tremendous success" especially considering the volatility in capital markets.

He said: "It shows there is a clear sign of interest not only in our business model and our approach to technology in the vertical farming sector, but more broadly in our vision for the sector in the UK. The fact we managed to do it without venture capital funds and private equity is a tremendous success."

Vertical farms produce crops indoors for both consumption and pharmaceutical purposes in stacked layers, powered by artificial lighting.

The reduction of outdoor variables allows farming to be more precise and efficient while using considerably less space than a conventional farm, with Vertical Futures growing the equivalent amount of produce in two per cent of the space.

The process does not use soil, and feeds the plants hydroponically or aeroponically with nutrient-rich water.

Click here to read more.

Photo by Greta Hoffman from Pexels

Source: CITY A.M.