Siberian startup secures $1 million to develop vertical farms

iFarm, a Novosibirsk, Siberia-based startup, has secured $1 million in a round led by Gagarin Capital – the California-based VC firm founded by Nick Davidov and Mikhail Taver – with participation from individual Russian investors. The details of the deal have not been disclosed.

iFarm’s first experimental projects were completed in 2017. The next year, iFarm developed vertical farms to grow such short-term crops as strawberries, lettuce and herbs. Two such vertical farms of 500 sq. m. were developed with grocery stores.

This year, iFarm plans to launch a new 3,000 sq. m. project in Novosibirsk, a smaller one in Moscow (100-500 sq.m.), and to experiment its technology on the European market.

Read more at East-West Digital News


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