ForFarming, a business venture established by the Aegean Young Business People Association (EGIAD) angel investors received an investment amounting to 400.000 USD. ForFarming is a smart hydroponic agriculture business initiative that combines vertical agriculture with artificial intelligence technologies.
This was the second investment received by the venture which offers artificial intelligence-based solutions to greenhouses in order to assist them in growing fruits and vegetables without any chemicals. The first investment was received from Tarvenn Ventures and used to enter the markets in 7 different countries. This first foray into these countries was achieved only within one year. The company’s goal is to become a pioneer in the global market in the field of smart hydroponic agriculture.
Speaking to the press, EGIAD Angel Investors Chairman Frederic Pagy underlined the importance of innovation in agriculture. Frederic Pagy: “As the consumers become more aware of the products they consume, the interest in organic agricultural products have risen up significantly over the recent years. ForFarming aims to support and assist growers in this market by improving their efficiency, increasing the quality of their products whilst keeping their costs at an optimal level. We believe the consumers will also enjoy the benefits of the reduced costs in the market place.”
The company is currently offering its Farmio and Farmi products in 24 locations spread across 7 countries. Farmio, a software automation system supported by artificial intelligence, transforms vertical greenhouses into smart greenhouses whereas Farmi is offered to retailers, restaurants, and hotels by providing them turnkey greenhouses to grow their own fresh produce in smart greenhouses. The artificial intelligence system in Farmio measures and monitors the temperature, humidity, light, carbon dioxide and ph levels in the greenhouses and optimizes these conditions to receive the best quality product as possible.
Source: Haberler