Soli Organic recently got a major boost to its operations with a Series D funding round. The soil-based, indoor farming company recently closed a nearly $125 million funding round, which was led by global investment group CDPQ, with leading European investment firm Movendo Capital, B.V. also joining the round.
“Throughout our 30-year history, first in organic field agriculture and now as a leading indoor organic farming company, Soli Organic’s north star has always been what consumers care most about: organic, flavor, quality, freshness, and affordability,” said Matt Ryan, Chief Executive Officer. “Our unique technology advantage enables us to offer a superior consumer proposition. Growing indoors in soil confers both high quality and better unit economics, breaking the paradigm that organic food must cost more. We’re excited to work alongside world-class partners like CDPQ, Movendo Capital, and returning investors to bring our products to more consumers across the country.”
Follow-on investments also came from existing investors S2G Ventures, Cascade Asset Management Company, and XPV Water Partners. Goldman Sachs & Co. acted as the exclusive placement agent for Soli Organic. Strategic venture funding through this round will fund the continued build-out of additional large, high-tech, soil-based indoor farms that will transform the company’s nationwide production footprint.
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