Oishii, the producer of a much-hyped seedless, creamy, premium strawberry grown at a Kearny, N.J.-based commercial-scale indoor vertical farm, has closed in on $50 million in funding.
The Series A funding is led by SPARX Group’s Mirai Creation Fund II, established by Toyota Motor Corp., Sumitomo Mitsui Banking Corp. and SPARX, according to a news release. Existing investors include Sony Innovation Fund.
Strawberries are considered the “holy grail” of vertical farming, so his firm started with that, CEO Hiroki Koga said in the release.
“We set out to deliver exceptionally delicious and sustainable produce,” Koga said. “We aim to be the largest strawberry producer in the world, and this capital allows us to bring the best-tasting, healthiest berry to everyone. From there, we’ll quickly expand into new fruits and produce.”
Oishii means “delicious” in Japanese.
In 2018, Oishii first introduced its Omakase berry, an artisanal Japanese varietal that could go for $50 for a pack of eight, according to Time magazine, when most strawberries are about $5 for a pack of 15 to 20 at retail.
The berry caught the attention of Michelin-starred chefs, including those at Chef’s Table at Brooklyn Fare, Masa, Atera, Atomix, L’Atelier de Joël Robuchon, Dominique Ansel Bakery, Café Kitsuné and Murray’s Cheese.
“It is a great pleasure to work with Oishii and the Omakase Berry, which tastes consistently great every day of the year,” Chef Dominique Ansel, James Beard Award-winning pastry chef and creator of the Cronut, said in a review on oishii.com.
The company is developing more strawberry varietals and other types of produce, such as tomatoes, melons and peppers, to bring to market.
Oishii will use these funds to open vertical strawberry farms in new markets, expand the footprint of its flagship farm 15 minutes from Manhattan, and continue to invest in research and development to transform the future of agriculture.
“The cultivation and pollination techniques the company has developed set them well apart from the industry, positioning Oishii to quickly revolutionize agriculture as we know it,”
SPARX Group Co. president and group CEO Shuhei Abe said in the release.
Oishii’s Omakase Berry is currently available at oishii.com/shop, in stores at retail partner Eli’s Market, as well as served by some of the top chefs in New York.
The company has raised a total of $55 million since its founding in 2016.
