StageSeries B - III | Alive
Last Raised$17.5M | 7 mos ago
Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+80 points in the past 30 days
About Freight Farms
Freight Farms creates access to food in areas where the climate cannot support traditional farming methods. The firm offers a vertical hydroponic farm built inside an intermodal shipping container to democratize and decentralize the local production of fresh, healthy food. It was founded in 2010 and is based in Boston, Massachusetts.
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ESPs containing Freight Farms
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The indoor and vertical farming market involves the practice of growing crops in controlled indoor environments, utilizing technologies such as hydroponics, aeroponics, and vertical farming systems. This market addresses concerns about food insecurity, nutrition, and hunger while also providing solutions for issues such as the use of resources, reliability, and flavor. With a focus on health, sust…
Freight Farms named as Leader among 15 other companies, including Square Roots, AeroFarms, and InFarm.
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Expert Collections containing Freight Farms
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Freight Farms is included in 1 Expert Collection, including Agriculture Technology (Agtech).
Agriculture Technology (Agtech)
Companies that are using technology to make farms more efficient.
Freight Farms Patents
Freight Farms has filed 14 patents.
The 3 most popular patent topics include:
- Sustainable agriculture
- Horticulture and gardening
Agronomy, Sustainable agriculture, Organic farming, Limousines, Fisheries science
Agronomy, Sustainable agriculture, Organic farming, Limousines, Fisheries science
Latest Freight Farms News
May 10, 2023
(All image credits: Freight Farms). 10 May 2023 --- Food shortages caused by devastating floods and droughts have spurred the development of indoor farming solutions. However, this burgeoning sector is struggling to expand as energy costs decimate profitability margins and force businesses into cost-saving and streamlining mode. Notably, French vertical farming company Agricool was forced to look for a buyer last year after the business became unsustainable. Meanwhile, Dutch firm Infarm fired over half its employees in November, unable to “withstand the challenging market conditions, particularly regarding escalating energy prices.” Infarm closed operations in the UK, France, the Netherlands, Japan, Frankfurt (Germany) and Copenhagen (Denmark) – all countries where energy prices have skyrocketed. FoodIngredientsFirst sits down with Rick Vanzura, CEO of Freight Farms, to understand how energy is at the root of the sector’s problems and what can be done to overcome the problem. “High energy prices have impacted the vertical farming sector just as they have others,” he explains. “An increase in energy cost means that our operating cost increases, affecting our bottom line.” “While vertical farms are able to create the perfect growing environment every day of the year, they rely on energy (rather than sunshine) to do it. Energy consumption is the ‘Achilles heel’ of the vertical farming industry.” Lettuces and leafy greens are popular crops among vertical farmers.Harnessing renewables, boosting efficiency The US-based agri-tech firm is tackling the issue of high energy prices by expanding renewable energy use and improving production efficiencies. “Freight Farms is always trying to increase the energy efficiency of its vertical farms. Our Greenery S container farm uses proprietary LED grow lights that are 50% more efficient while also 60% more intense than standard options,” Vanzura continues. “We encourage farmers to operate their farms using renewable energy when possible. We have a partnership with Arcadia [a climate technology business] to connect farmers to clean energy. We also have farmers who use other renewable sources to power their farms.” Some vertical farming businesses already boast 100% renewable energy use, such as US-based Bowery Farming, avoiding dependence on the conventional energy grid. Meanwhile, high energy prices have also hit the greenhouse farming sector hard. In the UK, half of the greenhouses were reportedly empty in June 2022. Vertically-farmed favorites Given the need to boost profitability to ensure the survival of vertical farming operations, selecting what crop to grow is a vital decision. “Lettuces and leafy greens are the most popular crops with our customers. They are compact, making excellent use of the limited footprint of our container farms. Around 1,000 heads of lettuce can be produced weekly in a Freight Farm. Lettuce also drives a fairly high value in the market. Similarly, arugula and herbs like basil are both compact and valuable,” Vanzura explains. The firm’s lettuce also lasts longer than those commonly sold in grocery stores, helping to prevent food waste. “Microgreens are a more recent favorite. They grow quickly (two weeks from seed to harvest) and drive a high price while being cheap to produce. Microgreens are attractive to restaurant customers: high-end chefs love to use microgreens as garnishes,” adds Vanzura. Energy prices is the "Achilles heel" of the burgeoning sector. “Compact crops like French radishes can be ‘intercropped’ with lettuce — grown in the same plant panels to maximize production in the fixed space of the container farm.” Kale, radishes, carrots and other small roots such as edible flowers are other crops commonly targeted by vertical farmers. Crops of the future Vertical farming allows for vast water reduction compared to traditional harvests, opening the door for more water-intensive crops to transition into indoor operations. “We foresee fruiting crops and crops that traditionally require huge amounts of water to hold promise in the coming years,” Vanzura says. “Freight Farms use 99% less water than traditional agriculture – as water becomes an increasingly scarce resource, vertical farms will present more of an advantage for such water-sucking crops. Some examples include tomatoes, strawberries and other types of berries and flowering crops.” By Marc Cervera
Freight Farms Frequently Asked Questions (FAQ)
When was Freight Farms founded?
Freight Farms was founded in 2010.
Where is Freight Farms's headquarters?
Freight Farms's headquarters is located at 44 Plympton St, Boston.
What is Freight Farms's latest funding round?
Freight Farms's latest funding round is Series B - III.
How much did Freight Farms raise?
Freight Farms raised a total of $45.43M.
Who are the investors of Freight Farms?
Investors of Freight Farms include Spark Capital, Ospraie Ag Science, Aliaxis, Alkaline Partners, Stage 1 Ventures and 11 more.
Who are Freight Farms's competitors?
Competitors of Freight Farms include Babylon Micro-Farms, Plenty, Vertical Harvest, Square Roots, Bowery Farming and 7 more.
Compare Freight Farms to Competitors
Bowery Farming operates as a farming company. It uses robotics, light-emitting diode (LED) lighting, computer vision, sensors, and data analytics to grow leafy greens with no pesticides. It was founded in 2015 and is based in New York, New York.
Gotham Greens is an agribusiness that builds and operates commercial-scale greenhouse facilities for fresh vegetable production. The firm produces greenhouse-grown vegetables and herbs which are grown using hydroponic methods in climate-controlled rooftop greenhouses in Brooklyn. The firm was founded in 2009 and is based in Brooklyn, New York.
Plenty operates an indoor vertical farm to offer local produce without the use of pesticides, GMOs, or long-distance travel. It offers indoor vertical farms that grow fresh, flavorful, pesticide-free greens using just a fraction of the water and land compared to conventional farms. The company was founded in 2014 and is based in South San Francisco, California.
AeroFarms provides aeroponic growing technology and LED lighting systems that grow produce without soil and without sun, all year round and in any location. AeroFarms' modular, vertically stackable systems are designed for locating in old or vacant urban buildings, enabling local production of pesticide-free, fresh, clean greens. AeroFarms' systems transform food production into a more sustainable, efficient, and safe process by enabling profitable, commercial-scale vertical farming in urban centers.
Green Sense Farms is an indoor, commercial, vertical farm and user of Philips LED grow lights. The company provides nutritious and delicious produce that's good for people and the planet.
FreshBox Farms is a hydroponic farm providing fresh, hyper local, non-gmo based produce.
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