Skip to main content

We got an exclusive look at the pitch deck indoor farming startup iFarm used to raise $4 million

* Helsinki-based indoor farming startup iFarm has raised a $4 million seed round. * iFarm's indoor farm tech is automated and allows customers to start growing salads, greens, berries and vegetables in urban environments. * iFarm's platform is powered by computer vision, machine learning, and data about thousands of plants collected from a distributed network of farms as well as industry knowledge. * "COVID-19 been a boost to our business, it's boosted our number of farms, requests from customers also increased, we were in the right place at the right time," Max Chizhov, cofounder and CEO of iFarm, told Business Insider in an interview. * Visit Business Insider's homepage for more stories. Helsinki-based indoor farming startup iFarm has raised a $4 million seed round to continue its growth from the coronavirus pandemic. iFarm's indoor farm tech is automated and the firm claims to allow customers to start growing salads, greens, berries and vegetables in urban environments. The firm says its platform is powered by computer vision, machine learning, and data about thousands of plants collected from a distributed network of farms as well as industry knowledge. "COVID-19 been a boost to our business, it's boosted our number of farms, requests from customers also increased, we were in the right place at the right time," Max Chizhov, cofounder and CEO of iFarm, told Business Insider in an interview. The round was led by Gagarin Capital, a previous investor in the startup. Other investors include Matrix Capital, Impulse VC, IMI.VC and several business angels. "It was not hard for us to raise this money during the pandemic because our existing investors supported us," Chizhov added. The round was closed remotely in July.  The company will use the funding to develop its iFarm "Growtune" tech platform which Chizhov calls a "super app" that enables the operation of multiple varieties of vertical farms through an API.  Delays to supply chains because of the pandemic has accelerated iFarm's business according to Chizhov, who added that the company has a planting area of 11,000 metres squared across a number of countries and is aiming for 1 million metres square and 500-plus crops by 2026.  "The 2020 pandemic exposed the problems of the global food system – food supplies, sowing and harvesting were disrupted across the globe," Mikhail Taver, Managing Partner at Gagarin Capital, said. "iFarm is taking a novel approach to agriculture, offering an automated solution to grow crops close to the consumer and ensure food security. "We believe that the future of the food market lies in modern technologies and are excited to support the project on its way." Check out iFarm's pitch deck below: SEE ALSO: An exclusive look at the pitch deck HR startup Flux used to raise $3 million as the pandemic makes remote working the norm iFarm iFarm iFarm iFarm iFarm iFarm iFarm iFarm iFarm iFarm iFarm
https://bit.ly/34jIqQw

Popular posts from this blog

'What is the X-Ray feature on Amazon Prime Video?': How to find and view bonus material about TV shows and movies

* X-Ray is an exclusive feature on Amazon Prime Video that displays bonus material about a show or movie, similar to the bonus features on a DVD. * X-Ray can show you information about the actors in a scene, the musical soundtrack, trivia, and more. * To activate X-Ray, you generally only need to click or tap within a video that's currently playing.   * Visit Business Insider's Tech Reference library for more stories. Amazon Prime Video's X-Ray feature is, at least for now, not available on any other video streaming service. X-Ray works like the bonus features you find on a DVD or Blu-ray. With just a few clicks or taps, you can get additional information about many of the TV shows and movies on Prime Video. When you activate X-Ray, Prime displays an overlay on top of your show, offering additional information.  Check out the products mentioned in this article: Amazon Prime Video ($8.99 a month at Amazon) Roku (from $49.99 at Roku) There are several kinds of info...
Read more

Why an early exec quit unicorn food delivery startup Deliveroo to launch a food business in the middle of a pandemic

* A former Deliveroo exec has launched a market food hall startup in the middle of COVID-19. * Dan Warne was managing director of the unicorn startup until 2019, but has now launched Sessions Market as a community food hall concept to rejuvenate UK towns after the pandemic. * Warne says he hopes to bring his experience from Deliveroo, particularly about customer behavior, to the analogue world of food halls. * The first venue, Shelter Hall on Brighton seafront, launches July 4. * Visit Business Insider's homepage for more stories. On Saturday, the UK's bars, restaurants, and cinemas will fling their doors open to customers for the first time since a strict lockdown commenced in late March. Given continued public health concerns around the coronavirus pandemic, it might be unwise to open a new food business right now. But Dan Warne, a former high-level executive at British unicorn startup Deliveroo, has launched Sessions Market, a series of community-orientated food hal...
Read more

How to start a TikTok influencer house, YouTuber monthly incomes, and Instagram DM networking

Welcome back to this week's Influencer Dashboard newsletter! This is Amanda Perelli, writing to you from home, and here's an update on what's new in the business of influencers and creators. This week, my colleague Dan Whateley spoke to the founder of "Drip Crib," a new TikTok influencer group and collab house, on his strategy to try and turn a profit.  As TikTok stars move to Los Angeles to pursue careers in entertainment, many are getting houses together and forming creator "collectives." The influencer group is renting a mansion listed at $18,900 per month, located in the heart of Los Angeles' social-media scene, just a few minutes away from the Hype House and residences of top YouTubers like Logan Paul and James Charles. The founder, influencer and musician Devion Young, broke down: * How to start a TikTok house – like securing a lease and recruiting talent. * Establishing house rules, which can include content quotas. * His invest...
Read more