Freight Farms cultivates $3.7 million from Spark Capital
Summary
The company sells a fully functional hydroponic farm built from used shipping containers, called the Leafy Green Machine. For $76,000 customers receive all the necessary supplies, and can grow herbs such as oregano and basil, and vegetables such as cabbage, mustard greens, Brussels sprouts, and kale. Brad McNamara, Freight Farms co-founder and chief executive, said the funding would help the company accelerate its expansion and release “some new products to help our farmers be more successful.” Customers include mainstream food corporations, conference centers and hotels, and schools such Boston Latin high school, and local burger joint Tasty Burger. Spark Capital general partner Todd Dagres said Freight Farms has the important characteristics the venture firm looks for in a startup: a team with winning character, a singular product, and a market opportunity. Dagres added that while a venture firm’s primary job is to make money for its investors, Freight Farms provided Spark Capital with an opportunity to help create a sustainable product that is good for the environment.