Urban Oasis secures SEK 10.5 million from Family Offices Pelarhuset and Anteeo, and Yobi Partners Ltd.
Urban Oasis, a Stockholm, Sweden-based provider of indoor vertical farming solutions, announced completing a funding round of SEK 10.5M ($1.2M).
Proceeds will be used to build a MegaFarm, which is expected to expand production capacity by 15 to 20 times. The new facility is controlled by by GreenOS, an automation software developed in-house, and will be operational by the end of 2020 for growing a variety of crops.
Urban Oasis, founded in 2017 by Albert Payaro, is a food tech business using urban spaces as indoor farms and thus producing fresh, sustainable and nutritious food. The company produces a variety of leafy greens, including kale, bok choi, and lettuce, which are sold at Swedish retailers including ICA, COOP, and online grocer MatHem.