Hippo Harvest this week announced that it has raised $21 million in a Series B round. The San Francisco-based startup said it will use the funding to grow its automated greenhouse operations. It also plans to expand its product offerings into new categories of leafy greens.
“We’re excited by the opportunity to scale our production and reach more consumers with high-quality, sustainable produce,” said Eitan Marder-Eppstein, CEO of Hippo, in a release. “Our team’s work over the past 12 months demonstrates our ability to create modular, cost-effective growing systems that can be deployed across the country. We look forward to working with our investors to make it a reality.”
Founded in 2019, Hippo Harvest uses closed-loop, non-recirculating, direct-to-root fertilizer systems; machine learning; and autonomous mobile robots (AMRs) to grow fresh produce. The controlled environment agriculture (CEA) company said its modular greenhouse design enables produce to be grown closer to consumers using fewer inputs such as water, fertilizer, and energy.
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Inside Hippo Harvest’s autonomous greenhouse
Hippo Harvest operates a repurposed greenhouse in Pescadero, Calif., that it claimed outcompetes traditional greenhouses for scalability and unit economics. The company added that its produce prices are comparable to those of traditional outdoor-grown produce.
The facility’s fertilizer system, software, and Zebra Technologies AMRs allow it to calculate and efficiently distribute water, fertilizer, light, and heating on a micro-climate basis, asserted Hippo Harvest. It said these result in more cost-effective and resource-efficient production.
Hippo Harvest added that its farming methods can increase food safety and extend shelf life by up to 30% compared with outdoor-grown produce.
First, the system irrigates plants with purified water and a customized nutrient blend from below, rather than above. Watering and fertilizing from the bottom of plants reduces the risk of pathogens and fungus formation caused by water and nutrients touching the leaves, said Hippo Harvest.
Then, the company uses off-the-shelf robots with customized attachments to tend to and harvest the plants. The AMRs deliver precise levels of water and nutrition for healthier plants, it said.
Instead of using conventional chemical pesticides, Hippo Harvest uses beneficial insects, natural oils, and other pesticide-free practices. By conducting all production in a clean, controlled greenhouse, the company said it can reduce the damage and quality variations that occur in conventional outdoor farming.
Hippo Harvest also packs all products on site immediately after harvesting. All of its packaging is made from 100% post-consumer recycled plastic.
Standard Investments, Amazon among Hippo Harvest supporters
Standard Investments, a New York-based investment firm focused on the intersection of industry and technology, led Hippo Harvest’s Series B round. Congruent Ventures, Amazon’s Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners also participated in the funding.
“Since inception, Hippo has delivered superior produce while maintaining cost efficiencies,” stated Logan Ashcraft, principal at Standard Investments. “Standard invests in companies disrupting traditional industry, and we are thrilled to partner with Hippo on its journey to scale.”
Ashcraft is joining Hippo Harvest’s board of directors.
Technology offers advantages over traditional growing
The company has signed The Climate Pledge, a commitment co-founded by Amazon and Global Optimism for businesses to reach net-zero carbon by 2040.
“Hippo Harvest’s approach to growing produce in greenhouses addresses a critical need to reduce climate change-related volatility in the fresh-food supply chain,” said the startup. “It also offers ecological benefits like significantly reducing water and fertilizer use, even in low-water environments or areas with limited agricultural space, and reduces methane-producing agricultural waste that is caused by traditional farming.”
Hippo Harvest added that its approach can “increase the availability of locally grown, fresh food and provide communities with more accessible water, a cleaner environment, and safer, more stable agricultural jobs, without sacrificing accessibility and affordability at commercial scale.”
Today, San Francisco residents can find Hippo Harvest products at their local Gus’s Community markets or online at Amazon Fresh. More locations are coming soon in Northern California, said the company.
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