Key Takeaways
- $21M Series B Funding Round Closed: Hippo Harvest has successfully closed a $21M Series B funding round led by Standard Investments with participation from Congruent Ventures, Amazon’s Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners.
- Expansion Plans: The funding will scale Hippo Harvest’s greenhouse operations and diversify its produce offerings, particularly in leafy greens.
- Innovation in Agriculture: The company employs advanced controlled environment agriculture technologies, including machine learning and autonomous robots, for efficient production.
- Sustainability and Environmental Commitment: Hippo Harvest’s methods aim to reduce environmental impact, conserve resources, and improve food safety, aligning with its commitment to The Climate Pledge for net-zero carbon by 2040.
Hippo Harvest Successfully Closed a $21M Series B Funding Round Led By Standard Investments
Hippo Harvest, a controlled environment agriculture (CEA) startup, announced the completion of its $21M Series B funding round, led by Standard Investments. The round also saw contributions from Congruent Ventures, Amazon’s Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners. This investment marks a significant step towards expanding the company’s innovative greenhouse operations and introducing new categories of sustainably grown produce.
Strategic Growth and Technological Advancement
Established in 2019 and operating in Pescadero, CA, Hippo Harvest is at the forefront of redefining greenhouse technology to surpass traditional farming in both efficiency and sustainability. The company’s approach combines a closed-loop, non-recirculating direct-to-root fertilizer system with advanced data analytics and robotic automation to optimize the production environment.
CEO Eitan Marder-Eppstein expressed enthusiasm for the company’s trajectory: “We’re excited to scale our production and reach more consumers with high-quality, sustainable produce. Our team’s work over the past twelve months demonstrates our ability to create modular, cost-effective growing systems that can be deployed nationwide.”
Logan Ashcraft from Standard Investments underscored the alignment with their investment philosophy: “Since inception, Hippo has delivered superior produce while maintaining cost efficiencies. Standard invests in companies disrupting the traditional industry, and we are thrilled to partner with Hippo on its journey to scale.”
Enhancing Food Safety and Environmental Impact
Hippo Harvest’s innovative farming techniques not only aim to extend the shelf life of produce and enhance food safety but also significantly reduce the environmental footprint of farming. The startup’s use of purified water, customized nutrient blends, and pest management strategies demonstrates a commitment to sustainable agriculture practices.
The company’s methods are designed to address climate change-related challenges in the food supply chain, offering solutions that conserve water, reduce agricultural waste, and support sustainable community development. Hippo Harvest’s alignment with The Climate Pledge, aiming for net-zero carbon by 2040, reflects its dedication to environmental stewardship.
Future Directions and Availability
Hippo Harvest’s products are currently available to consumers at Gus’s Community Markets and online through Amazon Fresh, with plans to expand availability in Northern California. The Series B funding is a pivotal moment for the company, enabling it to scale operations and contribute to developing a more sustainable, efficient, and safe food system.
