PlantLab raised an investment of €20 million from De Hoge Dennen Capital.

PlantLab, a Hertogenbosch, Ntherlands-based developing farm technologies, announced securing a €20 million ($22.9M) capital investment round.

The money was provided by the Dutch investment company De Hoge Dennen Capital, and will be used to open indoor production sites in various countries, including the Netherlands, the US, and the Bahamas.

In addition to the money, CFO Frank Roerink and CEO Michiel Peters from the investor are joining the company to strengthen the management team.

PlantLab, founded in 2010 by Leon van Duijn, Marcel Kers and John van Gemert and led by CEO Michiel Peters, developed a farming technology which is used for for building vertical farms, a hyper-efficient method for growing vegetables and fruits. The company's technology makes it possible to grow fresh, healthy, and delicious vegetables on a large scale very close to the consumer without using any chemical crop protection agents.