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Home World Regional News Europe

Dutch indoor farming company PlantLab secures €50M

Femi Thomas by Femi Thomas
02/26/2022
in Europe
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PlantLab, an indoor farming platform, announced that it has secured €50M funding in a new round led by De Hoge Dennen Capital. 

De Hoge Dennen is part of the investment arm of the De Rijcke family, the former owners of Kruidvat.

Its previous investments included online supermarket Picnic, the Felyx shared scooter concept, and the electrical bicycle brand QWIC. 

PlantLab says the funds will enable it to open more production sites outside the Netherlands, like North America and Europe.

To date, the company has raised total funding of €120M. 

Founded in 2010 in Den Bosch, the company has developed a globally patented technology for ‘vertical farming’, a hyper-efficient method for growing vegetables and fruits. 

The company has already invested €70M in technology to grow “fresh, healthy and delicious vegetables” on a large scale very close to the consumer without using any chemical crop protection agents. 

On a surface area the size of only two football fields, the company says it is now possible to produce enough crops to feed a city of 100,000 residents with 200 g of vegetables each daily.

 

Read more on Tech Gist Africa:

Berlin-based Zenjob Raises €45M in a Growth Financing Round

PerchPeek Raises $11M to woo ‘great resignation employees’ with Easy Relocation

Sweden’s Volta Raises $260M… to get it’s all-electric trucks into production by the end of this year

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