News In Brief:
– Oishii, a US startup known for premium Japanese strawberries, secures $134 million funding for high-tech indoor farm.
– Investment aims to revolutionise agriculture with automation and sustainable practices, potentially impacting global market and benefiting local farmers.
New Jersey-based startup Oishii, renowned for its premium Japanese strawberries, has successfully raised $134 million in a recent funding round, with key investors including Nippon Telegraph and Telephone.
Founded in 2016, Oishii utilises cutting-edge Japanese agricultural technology to cultivate sweet Japanese strawberry varieties in US indoor farms, completely pesticide-free. The company, led by CEO Hiroki Koga, has gained popularity through word of mouth, gracing the tables of upscale New York restaurants.
State-of-the-art facility in the works
In 2022, Oishii expanded its reach, making its premium berries available in high-end grocery stores, priced at approximately $11 for a pack of six. The product line has since grown to include delectable sweet cherry tomatoes.
The freshly acquired funding is earmarked for the construction of a state-of-the-art indoor farm in New Jersey. This facility, set to be a marvel of innovation, will boast on-site power generation and a water-recycling system. Oishii’s ambitious plan involves the integration of robots and artificial intelligence to automate every stage of the farming process, from planting to harvesting.
Strategic investors and collaborations
NTT, a prominent investor, aims to leverage its investment to forge a strategic partnership with Oishii, enhancing its expertise in indoor farming. Yaskawa Electric, another contributor, collaborates with Oishii to develop automation systems, envisioning a fully automated farm within five to ten years.
The funding round saw participation from a diverse group of investors, including Mizuho Bank, Mitsubishi Shokuhin, and Japan Green Investment Corp. from Japan, along with international players like CTBC Bank, McWin Capital Partners, and Nymph Investments Cayman. This global support underscores the growing interest in innovative agricultural practices.
As Oishii pioneers advanced farming techniques, the investment not only propels the startup towards global prominence but also holds promise for farmers. The adoption of automation and sustainable practices could potentially influence and inspire agricultural advancements, benefitting the local farming community.
