Vertical farming startup Harvest London has raised an unknown amount of investment from Foresight Group to build a new site near Croydon.
Harvest London’s third farm will be 140,000 square feet and based in Beddington, London, adding to its existing two sites in the UK capital.
Chris Davis, founder of Harvest London, said: “While you might not yet have tasted something grown in a vertical farm, in the future this type of produce is going to be on your menu, whether that’s from a supermarket, in prepared food, or eating out.”
“Vertical farming is a technology that can complement British agriculture, helping us reduce our reliance on food imports, and give consumers fresher, more local ingredients.”
The startup uses hydroponics, a method to grow plants without soil, in its indoor farm facilities.
Its farms have grown more than 100 plants using 95% less water, no pesticide and contribute to fewer delivery miles, says Harvest London.
The vertical farm startup previously received a £500,000 loan from the government’s Future Fund, which it has now converted into equity shares according to Sky News.
Businesses such as Pizza Pilgrims use Harvest London to supply herbs for its pizzas.
“This approach to farming will play a pivotal role in shaping a more sustainable future and meeting the country’s food needs,” said Matt Hammond, partner at Foresight.
“The next phase of expansion will positively impact job creation and stimulate the local economy.”
Foresight Group at the start of the year closed £60m for its Scotland SME fund.
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