Scottish agritech business IGS achieves £42 million Series B fundraise with announcement at COP 26
Summary
Donald Brenninkmeijer, Director appointed by COFRA, commented: "With a growing population putting ever greater strain on resources and the environment, there is an urgent need for sustainable, high-yield forms of food production. This first investment in sustainable food systems is consistent with COFRAs longstanding commitment to using business and capital as a force for good and I look forward to working with the IGS Board and management team to further support their growth." We have been supported with this investment by well-established, globally recognised and highly ethical investors in COFRA, Cleveland Avenue and DC Thomson, who understand the transformational potential of our technology for controlled environment agriculture." Each business operates independently in a spirit of engaged entrepreneurship while striving to be a "force for good" in the world – a guiding principle that has characterised the Brenninkmeijer family owners activities for six generations, since the founding of C&A in 1841. Founded by Don Thompson, the former President and CEO of McDonalds Corporation, Cleveland Avenue is a venture capital firm that invests in food and beverage brands, and technology companies that positively disrupt large and growing markets.