IKEA and chef David Chang round out $40m in financing for Series D round

AeroFarms, a company working in indoor vertical farming since 2004, closed $40 million in Series D financing led by an international line up of financing.

Financiers included Dubai-based Meraas Holdings, London-based ADM Capital, NYC-based AB (AllianceBernstein), and Netherlands-based Ikea Group with continuing support from existing investors including London-based Wheatsheaf Group and Beijing-based GSR Ventures. 

A number of individual investors also participated, such as General David Petraeus and top chef David Chang of the Momofuku Group.

AeroFarms just built its ninth farm to date in Newark New Jersey, which is the world’s largest indoor vertical farm based on annual output. Having raised in total over $100 million in corporate and project financing, AeroFarms will use the latest round of funds for continued investment in R&D and technology and additional farm expansion around the world.

AeroFarms Co-Founder and CEO David Rosenberg stated, “We are happy to have been able to make room for Ikea and David Chang to close out our May financing. Strategically partnering with additional major international investors and leaders with a shared vision and values demonstrates the maturity of our business and our ability to expand and have a global impact."

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