202214 Jul

Fieldless Farms secures $17.5 million to expand indoor farm, leafy greens product line

Summary

Ottawa-based agtech startup Fieldless Farms has raised a $17.5 million Series A round with a combination of equity and debt.The financing was led by agriculture and food fund Forage Capital Partners, with participation from Farm Credit Canada (FCC) and the Business Development Bank of Canada (BDC). Fieldless noted that BDC and FCC provided equal amounts in the debt portion of the fundraise, but did not disclose the exact size of BDC and FCCs investments.Launched in 2019, Fieldless uses indoor farming technology to produce leafy-greens year-round. Known as controlled environment agriculture (CAE), Fieldless said it allows the farm to create an ideal climate for growing produce throughout the year.By being produced in a controlled environment, Fieldless claims its products are safe to eat right out of the box with no washing needed. CAE also prevents environmental contaminants, such as runoff from livestock farms, from affecting the produce.Fieldess facilities are located in Cornwall, situated in the corridor between Montr\xe9al and Toronto. Fieldless is directly addressing long, complicated and mostly foreign supply chains by offering products that are local and more sustainable.Fieldless is part of a growing list of agtech startups in Canada that want to provide consumers with locally-grown produce and help in the global shortage.

Source: Betakit

Funding

$17.5M
Amount
Jul 14 2022
Date
-
Investor
Fieldless Farms
Company

Classifications

Companies