Ferme d’Hiver raises $46 million CAD to replace 10 percent of Canada’s strawberry imports
Summary
Qu\xe9bec-based agtech company Ferme dHiver (Winter Farm) has raised $46 million CAD to take a bite out of Canadas strawberry imports with local, vertical farming.Of this funding, the Government of Qu\xe9bec and Investissement Qu\xe9bec, which are returning investors, contributed more than $32 million. New investors Desjardins, Farm Credit Canada, Financi\xe8re Agricole du Qu\xe9bec and Capital Financi\xe8re Agricole also took part in the financing, as well as two private partners, whose identities were not disclosed.Established in 2018, Ferme dHiver combines precision agriculture with engineering systems and artificial intelligence to design, deploy, and operate controlled-environment agriculture solutions.The companys winter farm technology mimics the sun, rain, and wind, omitting the need for chemical pesticides. By focusing on vertical farming, Ferme dHiver claims its winter farm maximizes the available cultivation area and increases the production capacities of market gardeners.Ferme dHiver works with local producers to integrate its vertical farming technology into their facilities, and partners with retailers to distribute the produce.This recent infusion of capital will allow Ferme dHiver to build a vertical farm in Qu\xe9bec with the goal to produce nearly one million kilograms of strawberries each year and replace 10 percent of Canadas strawberry imports.Working towards this goal, a spokesperson for Ferme dHiver said the capital enabled the companys acquisition of fruit and vegetable producer and retailer Les Serres Vaudreuil, which will manage operations and production of Fraise dhiver strawberries.In the coming months, Ferme dHiver said that six 600 square metre vertical farms will be added to two existing farms it already has in operation. These installations, according to the company, will produce high quality strawberries year-long in Qu\xe9bec, while using 20 to 25 times less space than open field production. Ferme dHiver said this approach recovers 90 percent of irrigation water used and generates minimal greenhouse gasses.Ferme dHiver previously raised a $5 million seed round last year, which also saw contributions from the provincial government and Investissement Qu\xe9bec.