Hippo Harvest has raised $21M Series B by leveraging innovative technology—in particular, warehouse robots—highlighting the company's valuation jump from $42M to an impressive $145M.
Indoor Farming Transition: Farmers have started moving crops indoors to greenhouses and warehouses to protect them from the elements. This shift aims to provide a controlled environment to combat the unpredictability of outdoor farming.
Automation in Agriculture: Unlike its peers, Hippo Harvest, founded by Eitan Marder-Eppstein, focuses on robotics rather than purely on farming. With automated systems regulating the growing environment and robots capable of nurturing plants, the company is redefining greenhouse management.
Innovative Systems: Hippo Harvest employs modular designs that isolate plants for precise nutrient delivery and disease control, marking a significant advantage over traditional hydroponic systems with shared loops.
Sustainability and Efficiency: By sticking with greenhouse farming over vertical farms, Hippo Harvest aims for cost-effective operations, boasting up to 92% less water usage and 55% less fertilizer without the need for pesticides, though the carbon footprint remains undisclosed.
Funding Details: The round was led by Standard Investments with participation from Congruent Ventures, Amazon Climate Pledge Fund, Hawthorne Food Ventures and Energy Impact Partners.
Currently, their produce is sold in California via Amazon Fresh and select local markets. The Series B funding aims to scale operations within the state.