Venture Capital: Soli Organic Lands $125M Round For New, Soil-Based Indoor Farms

Soli Organic has developed the nation’s largest commercial indoor organic, soil-based growing system and operates a nationally integrated platform of farms, production, and logistics facilities.

Soli Organic has closed a series D funding round of nearly $ 125 million. Led by global investment group CDPQ, the round also saw participation from leading European investment firm Movendo Capital, B.V. and existing investors S2G Ventures, Cascade Asset Management Company and XPV Water Partners.

The company will use the funds to construct more of its large, high-tech, soil-based indoor farms of which it targets a total of 15 locations nationwide. It will also build high-tech facilities in the Mid-Atlantic, Southeast and Pacific Northwest and other forthcoming locations, as well as several smaller, early generation facilities currently in production.

The company was founded in 1989 and is the leading grower and marketer of fresh organic culinary herbs in the United States, providing sustainable, USDA certified organic, regionally grown produce to retailers coast-to-coast. Soli is derived from the Latin word for “soil,” and the company is the only controlled-environment producer using soil-based technology.

Matt Ryan, Chief Executive Officer (CEO) of Soli Organic said: “Our unique technology advantage enables us to offer a superior consumer proposition. Growing indoors in soil confers both high quality and better unit economics, breaking the paradigm that organic food must cost more.”

Pedro Pereira Gonçalves, CEO of Movendo Capital, B.V. said: “Soli Organic has nailed the consumer proposition with top quality products at mass market prices. The company also solves for the critical needs of retailers, offering fresher, reliably available products and supporting surety of supply despite the challenges posed by climate change.”

Related Story: Vertical Farming Company Bowery Opens Latest Farm In Bethlehem, Pennsylvania

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