Vertical Future secures £1.1m in follow-on funding from Earthworm to expand vertical farming operations
Earthworm has provided £1.1m in follow-on capital to support Vertical Future in scaling its technology and growing operations.
Share allotment filed at Companies House
Vertical Future designs and operates advanced indoor farming systems using proprietary software and hardware. The London based business produces crops at competitive unit costs to enable scalable agricultural production.
Vertical Future has secured £1.1m in follow-on funding from existing backer Earthworm. The capital will be deployed to accelerate the company's technology development and growing operations. Acceleris Capital advised on the transaction.
The investment arrives as the agricultural sector faces disruption from recent health and economic shocks. Vertical Future operates urban growing facilities and builds automated controlled environment agriculture systems designed to create more resilient food supply chains.
From the founder
"Earthworm’s commitment to our business and the food sector during such an uncertain and turbulent time for the economy is very encouraging. This investment will allow us to accelerate growth of our operations and further validates our long-term view that vertical farming will be integral to food systems of the future."
Jamie Burrows
Founder & CEO at Vertical Future
Investor perspective
"Vertical farming will be at the forefront of food production in the years to come; it is poised to help solve one of the biggest issues of our time – how to feed a growing population sustainably. We were impressed by Jamie’s vision and the company’s potential from their seed round and are looking forward to supporting this very special business in its rapid growth."
Ben Prior
CEO, Earthworm
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Categories
About the company
Vertical Future
Vertical Future builds controlled environment agriculture systems for scalable indoor crop production.