AgroUrbana, a Chilean agrotech, closed a $4M Series A funding round led by Kayyak Ventures. Other investors in the round included Chile Global Ventures CLIN Fund, and various private investors.
AgroUrbana is the first vertical farming company in Latin America. The company uses advanced technology such as spectrum programmed lighting and climate-controlled spaces to produce vegetables in vertically arranged layers.
With its innovative farming solution, AgroUrbana is enabling intra-city agriculture, growing 100 times more products per square meter while using 95% less water.
āItās about producing more and better with less, offering a new category of food through a sustainable way of growing the best vegetables locally with the smallest environmental footprint possible,ā said CristiĆ”n Sjƶgren, CEO of the company.
The accelerated effects of climate change and the increasing demand on food supply chains are creating a very high-potential market for agritech solutions such as AgroUrbana. Furthermore, the produce is local, ready-to-eat, and free of pesticides.
āWe are developing a new agriculture that uses only renewable energy sources to fuel the production of superior quality food, available 365 days a year,ā said Pablo Bunster, founder of AgroUrbana.
The startup will use the new funding to consolidate its position in Latin America and continue expanding in the region.
