How robotics and AI helped Hippo Harvest land $21M to grow lettuce

Indoor farming startup Hippo Harvest has raised $21 million in a Series B funding round, increasing its valuation to $145 million. The company differentiates itself by using repurposed warehouse robots to manage its greenhouses, allowing for more efficient use of land and water, and enabling more experiments and data collection for machine learning algorithms. The funding will be used to scale operations, with the company currently selling produce in California through Amazon Fresh and smaller stores.

Despite recent struggles in the indoor farming sector, Hippo Harvest's unique approach could help it succeed. The company claims it can grow greens using up to 92% less water, 55% less fertilizer, and no pesticides compared to traditional agriculture. The company's greenhouses are currently heated by natural gas, but it aims to be net zero by 2040. The potential benefits of indoor farming, such as reduced water usage and decreased transportation costs and emissions, remain attractive to investors.

Key takeaways:

Indoor farming startups have faced significant financial challenges recently, with several filing for bankruptcy or laying off staff.
Hippo Harvest, an indoor farming startup, recently raised a $21 million Series B, valuing the company at $145 million post-money.
Hippo Harvest differentiates itself by using repurposed warehouse robots for tasks such as watering and harvesting, and by placing plants in individual cells within modules, rather than in a shared hydroponic loop.
The company claims it can grow greens using up to 92% less water, 55% less fertilizer, and no pesticides compared with traditional agriculture, and aims to be net zero by 2040.

How robotics and AI helped Hippo Harvest land $21M to grow lettuce | TechCrunch

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