Funding round
Infarm Series B
Infarm, which works in fresh produce production in United States, raised $100M in a Series B round announced on 11 Jun 2019, led by Atomico. 5 firms took part, 3 of them already investors. It is Infarm's third venture round on record; the one before was a Series A in Feb 2018.
$100M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Infarm did not disclose a valuation in this round. It came 16 months after Infarm's Series A. It is 20% of the $499M Infarm has raised in the venture rounds on record. Infarm raised again 15 months later: a Series C round of $170M in Sep 2020. Its next priced round, a Series D in Dec 2021, valued it at $1.00B.
Infarm's funding rounds
Infarm has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Atomico led the round with 4 other firms. Balderton Capital, Astanor and Cherry Ventures had backed Infarm before.
Lead investor
- Atomico backs 123 venture-backed companies new investor
Also in the round
- Balderton Capital backs 140 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- backs 92 venture-backed companies existing investor
- backs 33 venture-backed companies new investor
Joined the board: Hiro Tamura (Atomico).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Ziru Property Management | 16 Jun 2019 | $500M | not disclosed | General Atlantic |
| CMR Surgical Medical Supply Manufacturers | 21 Jun 2019 | $100M | not disclosed | not named |
| MX Data Solutions | 25 Jun 2019 | $100M | not disclosed | Battery Ventures |
| Medical Supply Manufacturers | 19 Jun 2019 | $67M | not disclosed | Dassault Systèmes |
| Loans & Financing | 4 Jun 2019 | $52M | not disclosed | WestBridge Capital |
| Tech Companies | 25 Jun 2019 | $50M | $300M | Kleiner Perkins |
| Tech Companies | 19 Jun 2019 | $50M | not disclosed | Y Combinator |
| Postman Tech Companies | 19 Jun 2019 | $50M | $350M | CRV and Nexus Venture Partners |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Infarm raise in its Series B round?
Infarm raised $100M in its Series B round, announced in Jun 2019.
Who led Infarm's Series B round?
Atomico led it, with Balderton Capital, Astanor, Cherry Ventures and TriplePoint Capital.
What was Infarm's valuation at the Series B round?
It was not disclosed.
Did Infarm raise again after this round?
Yes: a Series C round in Sep 2020 of $170M.