Participated · Series B · Jul 2024

Elevate Farms is a vertical-farming technology company operating facilities in Canada and the United States and focused exclusively on perishable leafy greens. Its proprietary, highly automated grow rooms—originally derived from NASA space-research—enable pesticide-free production that recaptures water, cutting usage by 98% versus conventional agriculture and extending shelf life. The company recently acquired and is scaling the Fieldless Farms facility in Cornwall, Ontario, whose branded products (Fieldless Farms®, Ontario Sweets®, Northern Crunch®) are already sold through Farm Boy and select Loblaws stores. Elevate’s closed-loop system targets Canada’s heavy reliance on imported lettuce, seeking to shorten supply chains and reduce the environmental footprint of 4,500-kilometre transport routes. Future pipeline projects are in pre-development across the United States, Switzerland and the UAE, positioning the firm for rapid international expansion. While no revenue figures were disclosed, Elevate cites industry-leading KPIs around energy efficiency and yields and plans to introduce new packaged leafy-green SKUs and broaden retail distribution with the fresh capital.