Oishii, a vertical farming company growing premium strawberries, says its recent Series B funding round closed at $150 million.
The company originally announced its Series B round netted $134 million in February, but said continued interest from investors led the round to increase in capital. This funding will help the company continue on its growth trajectory, its expansion into new markets and invest in more research and development, according to a news release.
Oishii recently announced its expansion into the Chicagoland area with a partnership with Whole Foods and will be incorporated into the menus of Michelin-starred restaurants Omakase Yume and Esme, as well as artisanal coffee shop Sawada Coffee.
The company also expanded its Koyo Berry presence in Harris Teeter locations in the Washington, D.C., metro area and said it plans to expand to Wakefern stores in the tri-state area later this year.
Oishii also opened its largest facility — spanning more than 237,000 square feet — in Phillipsburg, N.J. this year.
“We believe vertical farming is the ticket to a sweeter future, and this latest round of funding signals that others embrace our vision for a world where food is more accessible, better quality, and above all else, delicious,” Hiroki Koga, CEO and co-founder of Oishii, said in the release. “We’re honored to bring our berries to Chicagoans and Harris Teeter customers, not to mention welcome a roster of respected investors to the Oishii family.”
The company said climate tech fund Resilience Reserve, co-founded by Chris Anderson, head of TED, entrepreneur Rob Reid and Japanese venture firm Miyako Capital joined the round right before closing.
“We’re excited to support the Oishii team, both for the deliciousness of their existing produce and even more importantly for the extraordinary model they’re pioneering, which enables agricultural innovation at breakneck pace,” said Chris Anderson, co-founder of Resilience Reserve.
Existing investors include NTT, Bloom8, McWin Capital Partners, Mizuho Bank, the Japan Green Investment Corporation for Carbon Neutrality, Yaskawa Electric Corp. and others.
