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Elevate Farms

Vertical Farming
Product stageSegments
Early
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Farm Operators: Hydroponics
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Elevate Farms is a Canadian vertical farming company that produces pesticide-free greens using proprietary vertical farming facilities with LED light technology, photobiology, and robotic automation, based on 26 years of academic research and a combination of scientific disciplines.

Elevate Farms also operates in the US , with a 14,000 sq ft facility in Orange, New Jersey. It includes 4,750 sq ft of unmanned, autonomous grow room space and processing, packaging, and administration areas. The farm can produce up to 11 million plants per year, equivalent to 500,000 lbs (227,000 kgs) of plants.

Furthermore, the company claims its technology enables it to produce 125lbs/sq ft and uses 99% less water and land than its competitors. Moreover, the farm states that it requires 80% less labor than a traditional farm and has a 73% higher capacity than its competitors. Also, the farm’s products are 100% traceable from seed to sale using its blockchain technology. The company asserts that through its advanced tech, it can set up and scale operations to grow commercial quantities of greens in locations where traditional agriculture isn’t feasible.

In February 2024, the company launched large-scale projects in Switzerland and Northeast US .

Key customers and partnerships

In March 2023, Elevate Farms along with its regional partner Greengrower , an Australasia-based vertical farming company, commenced operations of Greengrower's first indoor farm in Hamilton, New Zealand, powered by Elevate Farms' patented technology.

Funding and financials

In October 2022, Elevate Farms raised nearly CAD 26 million (~USD 19 million), consisting of equity and secured project finance through a series of investments worldwide. 

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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Company profile
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Recent Updates

Management news
Geographic expansion
Feb 20, 2024
Elevate Farms expands in Switzerland and Northeast US; appoints Nikolas Oetker as CMO
Vertical Farming
Partnerships
Mar 29, 2023
Elevate Farms partners with Greengrower to commence farm operations in New Zealand
Vertical Farming
Geographic expansion
Mar 1, 2023
Elevate Farms commences operations at its first US farm
Vertical Farming

Company Brief


HQ location:
Suite 6000, 1 First Canadian Place Toronto ON CAN
Founded year:
2018
Employees:
11-50
Total Funding:
USD 30.9 million
Last Funding
USD 19.1 million, Oct 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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