UrbanFarmers closes interim-investment round12.12.2013 15:04
UrbanFarmers has raised CHF700k and is planning a substantial Series A investment round next year. In addition the company has hired a new CFO.
With new investment commitments of more than CHF 700'000, UrbanFarmers has just closed an important interim financing round with new and current investors through a convertible loan facility. Funding will be used to develop a solid farm pipeline next year with major growers and food retailers and to strengthen the technology and product developments with UF Systems. With funds secured until end of 2014, UF is well positioned to raise a substantial Series A investment round next year.
In addition the company announces that it had hired a new CFO. Marc Beermann is responsible for financing, investor relations and administration. Prior to joining UrbanFarmers, Marc spent 10 years in strategic management consulting as consultant with Bain & Company in Zurich as well as in investment management and portfolio operations as manager at VM Capital, a CHF 1.0bn mid-cap private equity fund focusing on fast-growing high-technology and manufacturing companies in Europe.
UrbanFarmers rooftop farm system grows fresh vegetables and fish, and adds a new experience for customers. The proprietary hardware and software solution which we have developed keeps a farm working and connected to a community 24/7, so anyone can see, smell, and taste the truly fresh food, anytime. UrbanFarmers large-scale farm allows to grow fish and vegetables on a commercial level. The start-up has also created a range of smaller, decentralized farming solutions.