JERSEY CITY, NEW JERSEY – February 28, 2024 – Today, vertical farming leader Oishii announced the closing of $134 million in Series B funding. Led by Japan’s telecommunications leader NTT, the round also attracted a diverse group of investors with deep expertise in food tech, sustainable agriculture, and automation.
New investors include Bloom8, McWin Capital Partners, Mizuho Bank, Mitsubishi Shokuhin Co., Ltd., the Japan Green Investment Corporation for Carbon Neutrality (JICN) – a fund established by the Japanese Ministry of the Environment, and respected industrial robotics company Yaskawa Electric Corporation.
While 2023 was a turbulent year for vertical farming operations, Oishii has emerged as an industry innovator with its unique business model and steady growth trajectory. The company delivers a highly differentiated product – from the chef-favorite Omakase Berry to the flagship Koyo Berry and its revolutionary new Rubi Tomato.
With plans to unveil another type of berry later this year, Oishii stands apart for its unrivaled ability to grow sophisticated produce beyond leafy greens, thanks to the many bees who live in its indoor farms and diligently pollinate each flower.
The Series B funds will only accelerate Oishii’s growth. Already known as the world’s largest indoor vertical strawberry farm, the brand will open a solar-powered facility, expand distribution to new markets, and continue to invest in advanced robotics and energy-saving innovations.
Oishii’s steadfast commitment to efficiency is one of the many reasons behind its success. Major breakthroughs include introducing state-of-the-art harvesting robots developed in partnership with investor Yaskawa, as well as optimizing the AI models that power bee pollination, environmental controls, and farm output to grow more with less energy and water.
“We founded Oishii to solve some of the biggest food supply issues our world faces today – but to do so deliciously,” said Hiroki Koga, CEO and Co-Founder of Oishii. “The time is now to take our technology from a promise of a better tomorrow to a proven reality – making good on the movement my predecessors in Japan started a decade ago. This capital will help us pave the way for mainstream adoption of vertical farming in the U.S., and we’re grateful to welcome many new partners to the Oishii family who share our vision of a sweeter future.”
“While many in the industry prioritize short crop cycles and unrelenting expansion, Oishii has bucked all trends by emphasizing taste over timelines and profitability over proliferation,” said Akira Shimada, President and CEO of NTT. “Oishii is a leading company with a great vision, a strategic approach, and one-of-a-kind technology, and has succeeded in what was previously considered difficult to achieve. We are confident that Oishii will be a great partner to take on the challenges for the future of agriculture.”
As the only U.S. vertical farm to sell strawberries year-round, Oishii marries nature, technology, and farming techniques perfected for decades in Japan to grow its prized fruit. Grown pesticide-free, every delectable Oishii product bears the Non-GMO Project Verified seal and is always in season.
Oishii introduced its first strawberry – The Omakase Berry – in 2018, which quickly caught the attention of Michelin-starred chefs, tastemakers, and consumers for its sweetness, aroma, and creamy texture. In February 2023, the company unveiled its second strawberry – The Koyo Berry – known for its refreshing sweetness and balanced acidity. Just two months ago, Oishii changed the game again by revealing the jewel-like Rubi Tomato, bursting with flavor.
Today’s funding news comes on the heels of the brand’s impressive expansion across the Northeast. In June 2023, Oishii launched its Koyo Berry in the DC area, before bringing the fruit to Maryland, Massachusetts, Connecticut, and New Jersey. Oishii products are available at Whole Foods Market, FreshDirect, and in a number of specialty grocers; each tray retails between $10-$15.
Oishii has raised a total of $189 million since its founding in 2016. Nomura Securities Co., Ltd. provided financial advisory services to Oishii.
About Oishii
Oishii (“delicious” in Japanese) is an innovative company transforming agriculture through vertical farming. The company is behind the world’s largest indoor vertical strawberry farm. Harmoniously marrying nature with technology, Oishii has recreated the elements—rain, air, heat, light, and nourishment—to grow perfect fruit all year round. Oishii’s beloved Omakase and Koyo strawberries and Rubi tomatoes are grown pesticide-free in the company’s vertical farms located just outside of Manhattan. Every Oishii product bears the Non-GMO Project Verified seal. The company was recognized as one of Fast Company’s “World’s Most Innovative Companies” in 2022. For more information, visit www.oishii.com.
