Image Credit: Hippo Harvest
Hippo Harvest, a groundbreaking controlled environment agriculture (CEA) startup renowned for its innovative greenhouse solutions fostering sustainable produce growth, today revealed the successful closure of its $21 million Series B funding round, spearheaded by Standard Investments. This significant investment milestone also saw participation from key players such as Congruent Ventures, Amazon's Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners, reflecting widespread confidence in Hippo Harvest's vision and trajectory.
Established in 2019, Hippo Harvest operates a state-of-the-art repurposed greenhouse facility in Pescadero, CA, setting new benchmarks in scalability and unit economics that rival traditional greenhouse models while maintaining competitive pricing akin to outdoor-grown produce. Employing a revolutionary closed-loop, non-recirculating, direct-to-root fertilizer system, coupled with cutting-edge technologies like machine learning and autonomous mobile robots, the company meticulously orchestrates the distribution of water, fertilizer, light, and heating on a micro-climate scale throughout its greenhouse network, resulting in significantly enhanced cost efficiency and resource utilization in fresh produce cultivation.
Consumers and retailers benefit from the unparalleled quality, consistency, and food safety standards upheld by Hippo Greens, all achieved at competitive market prices. Hippo Harvest pioneered a paradigm shift in sustainable agriculture by implementing farming methodologies that bolster food safety and extend shelf life by up to 30% compared to conventional outdoor-grown produce. Purified water and a bespoke nutrient blend irrigate plants from below, mitigating pathogen and fungus formation risks. At the same time, customized robotic systems ensure precise plant care and harvesting, further enhancing crop health.
Operating within a controlled greenhouse environment minimizes damage and quality variations inherent in traditional outdoor farming and underscores the company's commitment to sustainability. Hippo Harvest eschews conventional chemical pesticides in favor of eco-friendly alternatives like beneficial insects and natural oils, culminating in a production process that champions environmental stewardship.
By embracing greenhouse-based produce cultivation, Hippo Harvest addresses the pressing need to mitigate climate change-induced disruptions in the fresh-food supply chain and champions ecological preservation. Notable benefits include significant reductions in water and fertilizer consumption, even in arid environments or regions with limited agricultural space, alongside the mitigation of methane-producing agrarian waste associated with traditional farming practices. Moreover, the company's endeavors facilitate increased accessibility to locally grown, fresh produce, fostering healthier communities and bolstering economic stability by creating safer, more sustainable agricultural jobs.
As a testament to its commitment to environmental responsibility, Hippo Harvest has pledged allegiance to The Climate Pledge, an initiative co-founded by Amazon and Global Optimism, affirming its dedication to achieving net-zero carbon emissions by 2040. Residents of San Francisco can already find Hippo Harvest products at their nearest Gus's Community Markets or conveniently order online via Amazon Fresh, with plans underway to expand availability across Northern California.
About Hippo Harvest
Hippo Harvest stands at the forefront of controlled environment agriculture (CEA) innovation, leveraging closed-loop, direct-to-root fertilizer systems, machine learning, and robotic technologies to revolutionize fresh produce cultivation in repurposed greenhouses. With a modular greenhouse design that optimizes resource utilization and proximity to consumers, Hippo Harvest remains committed to reshaping the future of sustainable agriculture.
About Standard Investments
Standard Investments is a dynamic investment platform driven by a fundamental approach, focusing on industry and technology convergence. With a flexible and creative capital deployment strategy spanning public and private markets, Standard Investments leverages its extensive industrial knowledge and operational expertise to unlock value across all stages of a company's lifecycle.