If there was any question that indoor vertical farming is the future of agriculture, the latest announcement from AeroFarms will remove any doubt. The revolutionary company just secured a whopping $40 million in financing from world-renowned chef David Chang, megabrand IKEA and the ruler of Dubai — Sheikh Mohammed bin Rashid. The company intends to use the money to address the escalating challenge of bringing healthy, sustainable food to the growing global population using their innovative aeroponic growing system.
AeroFarms grows leafy greens without sunlight or soil in vertically-stacked troughs in a fully-controlled indoor environment. It’s better for the planet than traditional agriculture because it requires 95 percent less water, grows in half the time of traditional crops, doesn’t deplete soil and can be grown year-round and served locally — even in cold climates.
David Chang, founder of the Momofuku Group, said, “Momofuku has always championed local farmers and is continuously looking for innovative solutions to improve our quality and sustainability practices. AeroFarms’ incredible technology allows them to grow consistent, high-quality ingredients all year round. At the end of the day, the goal is always to find delicious ingredients from local purveyors we admire, and I am excited to partner with AeroFarms.”
IKEA, which has long championed indoor farming, funding innovations through Space10 and releasing their own indoor gardening system, also invested in the company. Rounding out the investment was Meraas, the investment vehicle of Sheikh Mohammed bin Rashid, vice president of the United Arab Emirates and ruler of Dubai.