Vilnius-based Leafood raises €6.45M to build vertical farms
14 June, 2022, 18:06
The Lithuanian startup Leafood has raised a €6.45 million seed round to build its first vertical farm in Vilnius. The private investor Niels Peter Pretzmann led the round, YesHealth Group participated, Tech.eu informs.
- Founded in 2021, Leafood is developing a network of indoor vertical farms to localize leafy green supply chains across the Baltic region. It will reduce dependence on imports from Southern Europe and Northern Africa.
- Niels Peter Pretzmann led the seed investment round. He is the founder of organic farm Farmer’s Circle and hospitality hub Baltic Food Republic. Taiwanese agricultural tech company YesHealth Group supported the round.
“Not only will Leafood allow us to shorten the supply chain, but it will also help us find solutions to acute problems in conventional farming,”Niels Peter Pretzmann comments.
- According to the startup, the construction of the first plant is underway in Vilnius. The initial footprint of the indoor vertical farm can yield over 1,000 kilograms of leafy vegetables per day. It is also entirely powered by renewable energy.
- The funding will help to finish the construction of the vertical farm. The company is also seeking to raise another €2 million from investors who share their mission for the Baltic marketplace.