Food and Beverage Business

Oishii secures $134 million to expand their vertical strawberry farming business

Oishii secures $134 million to expand their vertical strawberry farming business Fresh produce Food and Beverage Business

Oishii, a US-based vertical farming group, recently closed a $134m Series B round, with Japanese telecommunications group NTT leading the investment. The company plans to utilize the capital to establish a solar-powered facility, expand into new markets, and drive innovation in advanced robotics and energy-saving technologies. Notably, Oishii’s strategic move comes amidst the challenges faced by many vertical farming companies due to high energy costs.

In a statement, Oishii CEO and co-founder Hiroki Koga expressed confidence in the company’s technology, aiming to transition from a “promise of a better tomorrow to a proven reality.” Additionally, NTT’s President and CEO, Akira Shimada, lauded Oishii for its vision, strategic approach, and unique technology, positioning the company as a key player in shaping the future of agriculture.

Established in 2016 in New York, Oishii manages two vertical farms near Manhattan. The Mugen farm, opened in 2022, stands out as the “world’s largest” vertical farm for strawberries. Oishii’s product portfolio includes the Omakase berry, Koyo Berry, and the recently launched Rubī tomato, known for its “jewel-like” appearance. These products are distributed across several states through partnerships with retailers like FreshDirect, Whole Foods, and 99 Ranch, as well as collaborations with restaurants and cafes in New York City.

Oishii’s growth is further supported by investments from venture capital groups, private investors, and strategic partners like Mitsubishi Shokuin Co. and NTT. The company’s expansion plans align with industry trends in the food and beverage sector, emphasizing sustainable practices and technological advancements in vertical farming. This strategic positioning sets Oishii on a path towards mainstream adoption of vertical farming in the US, solidifying its position as a leader in the evolving food and drink business landscape.

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