Image: Oishii co-founders Hiroki Koga (CEO) and Brendan Somerville (COO). Credit: Oishii
Vertical farming startup Oishii recently announced a significant milestone, securing a remarkable $134 million Series B funding. Spearheaded by Japan's renowned telecommunications leader NTT, this funding round garnered attention from key players in food tech, sustainable agriculture, and automation, including Bloom8, McWin Capital Partners, the Japan Green Investment Corporation for Carbon Neutrality, and Yaskawa Electric Corporation.
Oishii's innovative approach extends beyond traditional leafy greens. It harnesses the pollination prowess of bees within its indoor farming facilities to cultivate a diverse range of produce. With the infusion of capital, Oishii is poised to embark on ambitious endeavours, including establishing a solar-powered facility and expanding its market reach.
Additionally, the funding will fuel investments in cutting-edge robotics and energy-efficient technologies, aligning with Oishii's vision for sustainable agricultural practices.
Central to Oishii's success is its unwavering dedication to operational efficiency. Collaborating closely with investor Yaskawa, Oishii has introduced state-of-the-art harvesting robots and optimized AI algorithms. These advancements enhance bee pollination processes, streamline environmental controls, and amplify farm output, reinforcing Oishii's position as an industry leader in vertical farming innovation.
Oishii's aspirations extend beyond mere profitability; the company aims to revolutionize the agricultural landscape in the United States. Distinguished as the sole U.S. vertical farm offering year-round strawberries, Oishii prioritizes consumer health and environmental sustainability, boasting the Non-GMO Project Verified seal and eschewing pesticide usage.
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 it 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.”
With this latest funding injection, Oishii's total capital raised since its inception in 2016 has climbed to an impressive $189 million. Positioned for exponential growth, Oishii sets its sights on further expansion across the Northeast, poised to redefine the future of farming through its groundbreaking initiatives and unwavering commitment to excellence.