FarmShelf

FarmShelf

Farmshelf enables anyone to grow food where they live, work, and eat by providing the hardware and expertise.

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$800k

Valuation: $10.0m

Early VC
Total Funding000k

Financials

Estimates*

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Revenues, earnings & profits over time
USD201820192020202120222023
Revenues000000000000000000000000
% growth-122 %69 %-(36 %)-
EBITDA000000000000000000000000
Profit000000000000000000000000
EV000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget000000000000000000000000

Source: Dealroom estimates

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More about FarmShelf
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Farmshelf is a company focused on decentralized agriculture through its smart indoor farming systems. Founded in 2016 by Andrew Shearer, the company originated in a San Francisco garage and later established its headquarters in Brooklyn, New York. Shearer's background in sales and business intelligence at technology companies like Twitter and Pinterest, combined with volunteer experience in agriculture education in Nicaragua, informed his vision for Farmshelf. The company provides bookcase-sized, automated hydroponic growing systems designed for both commercial and residential use.

The business operates on a model that includes both the sale of the physical units and a recurring subscription service. Clients purchase the bookshelf-sized automated farms and subscribe to receive seed pods and nutrients, along with access to the company's software. This cloud-based platform uses cameras and sensors to remotely monitor plant growth, automatically managing water, light, and nutrient levels, effectively acting as a "virtual green thumb." This system enables produce to grow two to three times faster than traditional farming methods while using 90% less water and eliminating the need for pesticides. The company initially targeted the foodservice industry, with clients including high-profile chefs, restaurants, and hotels who value the on-site production of fresh herbs and leafy greens. In 2020, Farmshelf expanded its offerings to individual consumers with the launch of Farmshelf Home.

Farmshelf's product is an internet-connected hydroponic system capable of growing over 50 varieties of leafy greens, herbs, and edible flowers. The units are designed to be aesthetically pleasing and fit within a restaurant, office, or home environment. The technology provides analytics on plant growth and optimizes conditions to ensure a consistent yield. By enabling harvesting on an as-needed basis, the system helps to reduce food waste and eliminates packaging. The company has raised a total of $14 million in funding over 11 rounds, with its latest Series A round in February 2024. Notable investors include Praxis, Sansiri, and SOSV.

Keywords: indoor farming, hydroponics, agtech, urban agriculture, vertical farming, controlled environment agriculture, sustainable food production, smart farming, automated growing systems, local food, food technology, farm-to-table technology, decentralized agriculture, on-site farming, subscription farming, residential farming, commercial kitchen technology, food waste reduction, sustainable agriculture, restaurant technology

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