Indoor vertical grower AeroFarms has secured $40 million in Series D financing, pulling in investors from Dubai, London, New York, Beijing and The Netherlands.
The company, which built its ninth farm in Newark, N.J., has raised over $100 million in corporate and project financing, according to a news release. The latest round of funding goes to research and development and technology, as well as adding more farms around the world, according to the release.
The recent investors include:
- Meraas Holdings, Dubai;
- ADM Capital and Wheatsheaf Group, London;
- AllianceBernstein, New York;
- Ikea Group, The Netherlands;
- GSR Ventures, Beijing
Gen. David Petraeus and chef David Chang (of Momofuku) were also listed among individual investors.
“We are as much a capabilities organization as we are farmers, vertically integrated to give us the tools and insights to optimize for taste, texture, color, nutrition and yield,” AeroFarms co-founder and CEO David Rosenberg said in the release.
Rosenberg lists loss of fresh water, worker welfare, food safety and food security as key areas that AeroFarms is addressing with its proprietary growing technology.