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US vertical farming company Oishii has raised $134 million in a Series B funding round led by Japanese telecommunications firm NTT.
The round included participation from a diverse group of investors with expertise in food tech, sustainable agriculture and automation, such as Bloom8, McWin Capital Partners, Mizuho Bank, Mitsubishi Shokuhin Co, the Japan Green Investment Corporation for Carbon Neutrality and robotics business Yaskawa Electric Corporation.
The funding round will see Oishii expand its distribution to new markets, open a new solar-powered facility and invest in advanced robotics and energy-saving innovations.
Founded in 2016, Oishii offers unique products like the Omakase Berry, Koyo Berry and Rubī Tomato. The company said it plans to unveil another type of berry later this year.
Oishii is known for its innovative approach to growing "sophisticated produce" beyond greens, with the help of bees in its indoor farms pollinating each flower. Hiroki Koga, CEO and co-founder of Oishii, said: “We founded Oishii to solve some of the biggest food supply issues our world faces today – but to do so deliciously. The time is now to take our technology from a promise of a better tomorrow to a proven reality – making good on the movement my predecessors in Japan started a decade ago. This capital will help us pave the way for mainstream adoption of vertical farming in the US, and we’re grateful to welcome many new partners to the Oishii family who share our vision of a sweeter future.” Akira Shimada, president and CEO of NTT, added: “While many in the industry prioritise short crop cycles and unrelenting expansion, Oishii has bucked all trends by emphasizing taste over timelines and profitability over proliferation. Oishii is a leading company with a great vision, a strategic approach, and one-of-a-kind technology, and has succeeded in what was previously considered difficult to achieve. We are confident that Oishii will be a great partner to take on the challenges for the future of agriculture.”