Wednesday 13 February 2019
French start-up Agricool has announced that it has raised USD 28 million for its system that uses specially designed trailers to grow strawberries in urban areas. The company has said that it will use the new funding to increase production 100 times, including expanding to Dubai, where one of its Cooltainers is already in use.
The Paris-based company has raised a total of USD 41 million so far to produce strawberries locally using its technological innovation. The company’s Cooltainers are retrofitted shipping containers with added lights, sensors, and water and temperature controls, conducive to growing batches of strawberries inside.
The controlled environment does away with pesticides, while local deliveries to customers helps cut down on fuel expenses.
Agricool has now raised money from Bpifrance Large Venture Fund, Danone Manifesto Ventures, Antoine Arnault via Marbeuf Capital, Solomon Hykes, daphni, XAnge, Henri Seydoux, and Xavier Niel via Kima Ventures.