US-based container farm developer Freight Farms has raised US$15 million in Series B funding led by Ospraie Ag Science, an investment firm committed to supporting sustainable solutions. The investment round, which received participation from existing investor Spark Capital, brings the company's total funding to more than US$ 28 million.

Freight Farms specialized in containerized vertical agriculture. Its product, named “Greenery,” incorporates hydroponic systems and LED lighting, enabling production of more than 500 varieties of crops at commercial scale year-round. The containerized vertical farming system uses 99.8% less water than traditional agriculture.

(Image: Freight Farm)

The Series B funding will be used to advance the technical potential of Freight Farms' platform through continued innovation, with new services designed to benefit its growing global network of farmers and corporate partners. The investment follows the announcement of Freight Farms' strategic national partnership with Sodexo to grow food onsite at educational and corporate campuses nationwide, and will support ongoing contributions to collaborative research projects and partnerships.

"Freight Farms has redefined vertical farming and made decentralizing the food system something that's possible and meaningful right now, not in the 'future of food,'" said Jason Mraz, President of Ospraie Ag Science.

"It's a big step forward for the industry when financial markets recognize and champion the value of creating a distributed food system," added Brad McNamara, Freight Farms CEO.