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Intelligent Growth Solutions

Vertical Farming
Product stageSegments
Growth
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Growing System Producers
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Intelligent Growth Solutions (IGS) is a UK-based developer of hydroponic vertical farms called “Growth Towers” with the use of machine learning and IoT. The company offers the technology, infrastructure, and training to set up and operate these Growth Towers. IGS adopts a Total Controlled Environment Agriculture (TCEA) technology that allows controlling environmental factors such as temperature, humidity, irrigation, and air composition levels to optimize plant growth. In addition, these towers require less human intervention and can be remotely monitored via a cloud-based app. The Growth Towers are capable of growing a variety of crops including herbs, brassicas, and leafy greens as well as indigenous crops such as warrigal and bush tucker celery. In March 2023 , IGS standardized on New Relic, a full-stack data analysis and observability platform, allowing IGS to cut monitoring spend and free up its software team to focus on sustainable agriculture solutions projects.

According to the company, its facilities can generate 12 pounds per square foot per annum, twice the glasshouse system’s six pounds. IGS further claims that its system typically harvests within 60%–70% of the time it takes in a glasshouse, with the ability to achieve a 2%–3% higher yield.

IGS targets growers, farmers, farming entrepreneurs, and pharmaceutical organizations across the world. As of November 2021, the company operated an office in Chicago and expected to expand further into North America, having secured one major prospective customer in the US and another in Canada. The company has also reported that its sales have increased 4x in the year 2021.

Key customers and partnerships

IGS accessed the Middle East market by partnering with Dubai’s International Real Estate Partners (IREP) (December 2020) and Madar Farms, an Abu-Dhabi-based farming company (May 2021). Under the terms of the deal with Madar Farms, IGS would oversee the development of five Growth Towers with the ability to produce up to 60,000 pounds per annum. The Growth Towers were expected to be operational in November 2021. In Europe, the company secured a partnership with Therme Group, an Austria-based global developer of wellbeing resorts, to co-develop and launch the Therme Intelligent Growth Ecosystem (IGE) across Therme’s wellbeing centers worldwide (November 2021). IGS is also collaborating with Ireland-based real estate investment and fund manager Greenman Group to develop the latter's first vertical farm. IGS also expanded its presence to Australia by partnering with Eden Towers, a vertical farming company offering leafy greens and indigenous crops, to build the latter’s first solar powered vertical farm. (February 2022). In June 2022, IGS partnered with New York-based hydroponic vertical farming startup CubicAcres to build a vertical farming facility for the latter’s expansion into East Coast US. Further, the company partnered with CEA solutions company HarvestUp to build a vertical farm at the Ranken Technical College campus in Ashland, Missouri. In December 2023, the company partnered with ReFarm, a UAE-based group focused on circular and clean technology projects, to provide vertical farming technology for the waste-to-value farm, GigaFarm.

Funding and financials

In November 2021, IGS raised GBP 42.2 million (approximately ~USD 57 million) in a Series B funding round led by Cofra. The fresh funds will be funneled toward supporting IGS to develop its technology to address the challenges of food insecurity and environmental degradation.

Vertical Farming

Vertical Farming

Key stats
Featured companies
103
Total funding (USD)
5.7 Bn
Total addressable market (USD)
36.4 Bn
Key competitors
 
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Recent Updates

Management news
Funding
Jan 18, 2024
IGS raises GBP 22.5 million in Series C funding for global expansion; appoints Andrew Lloyd as CEO
Vertical Farming
Partnerships
Dec 6, 2023
Intelligent Growth Solutions partners with ReFarm to provide vertical farming technology for GigaFarm
Vertical Farming
Funding
Jul 20, 2023
CubicAcres secures USD 3.7 million from Intelligent Growth Solutions
Vertical Farming
Partnerships
Mar 21, 2023
Intelligent Growth Solutions integrates observability needs into New Relic platform
Vertical Farming
Partnerships
Nov 8, 2022
Intelligent Growth Solutions partners with HarvestUp to build new vertical farm
Vertical Farming
Partnerships
Geographic expansion
Jun 23, 2022
CubicAcres partners with Intelligent Growth Solutions to expand to East Coast US
Vertical Farming

Company Brief


HQ location:
Exhange Place 2 Edinburgh Edinburgh GBR
Founded year:
2013
Employees:
101-250
Total Funding:
USD 114.1 million
Last Funding
USD 28.6 million, Jan 2024

Funding


Investors


No investor data is available

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