ECBF leads €17 million Series A financing round for RED Horticulture
Marc Nemitz
| 21.11.2023
RED Horticulture is putting sustainable agriculture in the spotlight! With an investment of 17 million euros, they want to drive forward their dynamic LED lighting solutions. The aim: to drastically reduce energy consumption in greenhouses and maximize plant quality.
The agricultural technology company has successfully completed a Series A financing round. The 17 million euros come from investors such as the European Circular Bioeconomy Fund (ECBF), Demeter IM and Unigrains. The aim of this investment is to further develop the company and promote its innovative lighting strategies.
Controlled environment agriculture, which includes greenhouses, is set to grow rapidly due to the numerous benefits it offers. It enables the production of healthy and nutritious crops close to the point of consumption, using less soil and water, while minimizing the use of chemicals.
Stéphane Roussel, Partner at ECBF
The company uses its own AI platform based on photobiological LED lighting solutions. These solutions are designed to reduce energy consumption in greenhouses by up to 60 percent while increasing plant quality and yields by up to 35 percent. This is in line with the EU Green Deal, which aims for a carbon-neutral Europe by 2050.
RED Horticulture's technology uses dynamic LED lights with a specific spectrum to precisely activate the photoreceptors of plants in greenhouses. This enables growers to optimize energy consumption, shorten plant development time and improve product quality.
Our recent funding round with ECBF, Demeter and Unigrains is a testament to the continued success of our hard work and unwavering belief in our product.
Louis GOLAZ, CEO RED Horticulture
The funding will mainly be used for research and development of lighting strategies and to support the in-house agronomy center in Nantes, France. This move reinforces RED Horticulture's position as a company committed to more sustainable agriculture without compromising on quality or yield.
Newsletter
Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.
LinkedIn ConnectTake care, give care
Did this news inform or entertain you? Then we would be happy if you tell your network about it.
Share on Linkedin Share on Facebook Share on XingFYI: English edition available
Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?
FYI: Deutsche Edition verfügbar
Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?
