Australia: Vertical farming firm raises $1 million

Agtech startup Vertical Farming Systems (VFS) has raised $1 million for its technology that does exactly what it says on the tin.

The startup “engineers labour out of growing green, leafy vegetables,” founder and chief executive Ashley Thomson tells StartupSmart.

Using an indoor pod and a cocktail of organic nutrients, the team has created an automated farming system equivalent to growing crops in optimum soil conditions, Thomson says.

“But ours is quicker,” he adds.

Currently, the startup’s shed houses eight acres worth of crops, producing 400kg of vegetables every week.

“The environment is perfect for what we do.”

The $1 million comes from one investor with significant experience in the agriculture industry, Thomson says.

The funds will be used to fuel work on new technologies, as the startup works on commercialising the existing concept.

Read more at SmartCompany (Stephanie Palmer-Derrien)

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