Canadian food company Fieldless Farms has raised CAD 17.5 million (approx. $13.4 million) in a Series A funding round led by agriculture and food fund Forage Capital Partners.
The funding round also featured participation from Farm Credit Canada (FCC) and Business Development Bank of Canada (BDC).
Founded in 2019 in Cornwall, Ontario, Fieldless grows leafy greens using highly-controlled environments and renewable energy, without herbicides or pesticides. The funding will help Fieldless to expand its leafy greens line.
Forage Capital Partners CEO, Jim Taylor, said: “We really like Fieldless’ approach and what the company has been quietly and cost-effectively building here in Canada. We think the company is well positioned in the current economic climate for steady and significant growth.”
Fieldless CEO, Jon Lomow, added: “In Canada, we import around $60 billion worth of food each year and happen to have the largest trade deficit in the world for lettuce. We rely on other nations to feed us, and it’s risky and unsustainable. We’re building Fieldless to address that massive opportunity – the need to locally produce food that is safer, secure, and more sustainable, 365 days a year.”
© FoodBev Media Ltd 2022
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