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Grosvenor Food & AgTech participated in an £18m Series A round in indoor farming company Smallhold Inc which grows certified organic, speciality mushrooms in urban centres in the US.
Smallhold’s mission is to innovate mushroom production by providing customers with fresh and nutritious, local, organic fungi which are grown in urban environments.
The investment will help Smallhold deploy its next generation of indoor farms, including new facilities in California, New York, Michigan and Florida.
The funding will also support expansion of the workforce and investment into R&D to grow new varieties of mushrooms.
Smallhold’s model reduces the time from harvest to delivery from over 10 days on a traditional farm to an average of just one day.
The mushrooms are grown on sawdust blocks – diverting waste from landfill – in patented growth chambers which mimic natural environments, enabling sustainable, cost effective production, year-round.