Intelligent Growth Solutions raises £1.6m in Series A funding led by Ospraie Ag Science
Ospraie Ag Science led the final close of the Series A round to support international market expansion.
Intelligent Growth Solutions designs indoor vertical farming and commercial lighting systems. The Scottish business combines automated power management with smart Internet of Things technology.
Intelligent Growth Solutions has secured £1.6m in the final close of its Series A funding round. The latest investment was led by Ospraie Ag Science, which contributed £1.5m, alongside a £100k injection from AgFunder. This extension brings the company total raised in the Series A category to £7m. The funds will be deployed to support international sales operations and market expansion for both its agriculture and lighting systems.
The capital arrives as demand accelerates for sustainable farming technology and internet-enabled lighting systems. Existing backers S2G Ventures and the Scottish Investment Bank also participated in the previous stages of the financing round. Ospraie Ag Science enters the register in its first deployment into the Scottish market.
From the founder
"The further investment of £1.6 million is a hugely exciting one, not only for our business, but also for the Scottish economy. Ospraie has chosen IGS as its initial investment target in the indoor agriculture market, and also as its first investment in Scotland, which is a substantial endorsement of our technology and approach to date. Working alongside our other investors in this Series A funding we are in a really strong position to take our offering to a global market and meet the demand that is growing almost daily."
David Farquhar
Chief Executive Officer at Intelligent Growth Solutions
Investor perspective
"IGS has tremendous potential to transform the way food is produced and supplied, and our investment – Ospraie’s first in the indoor agriculture market and in Scotland – is a testament to our strong belief in the success of IGS’ technology. The benefits of IGS’s Vertical Farming align well with our mission of helping farmers do more with less. We look forward to leveraging our significant agriculture network to help IGS grow its business to meet the market’s demand for sustainable solutions."
Dwight Anderson
Chief Investment Officer, Ospraie Ag Science
Use of funds
- 01Expand into international markets
Investors
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About the company
Intelligent Growth Solutions
Intelligent Growth Solutions develops indoor vertical farming and commercial lighting systems.