Vertical Field Agrotech Startup Headed to IPO
The company develops vertical gardens and fields.
Israeli aggrotech startup Vertical Field is looking to hold an IPO in Canada. According to Globes, Vertical Field will go public on Toronto’ s TSX Venture Exchange after a merger with a CPC (capital pool company) which is a vehicle similar to a SPAC.
The company, which is controlled by Michael Mirilashvili, expects to come away with a $100 million valuation. This may not seem like much considering all of the $billion plus exits from Startup Nation recently like Innoviz Technologies which just held a successful $1.d billion IPO last week. Israel’s Playtika hit an $11 valuation when it went public in January.
But why Toronto and not the NASDAQ? The company’s CEO Guy Elitzur explained to Globes that Canada has a track record of investing in agriculture and food technology. “We have decided to raise money through the Canadian Stock Exchange in order to raise the resources we need to enable us to enter the North American market, which is one of the largest in the field of retail and vertical agriculture,” Elitzur said.
Established in 2006, Vertical Field says that it wants to transform the urban ecosystem into a space of health, wellness, sustainability, and food security. It develops innovative vertical solutions for the urban ecosystem. The company states that by using “cutting-edge technology and smart monitors, lush greenery and clean agriculture grow in optimum conditions, both indoors and outdoors with minimal maintenance. Our soil-based vertical field makes the most efficient use of urban spaces, providing real results that make our cities greener, healthier, and more sustainable.”
Israel has always been at the forefront of aggrotech since the early days of the first Zionist settlements. The country drained swamps and established farms in the dessert. Nowadays Israelis have combined their country’s history of agricultural innovation with its high tech innovation. Startup Nation finds ways to deal with the world’s water and food production problems while offsetting the problems with animal waste and carbon emissions. Redefine Meat is one of a number of Israeli startups moving forward in providing the technology necessary to give the world viable meat alternatives. It does so by way of 3D printing technology. Israeli startup The Mediterranean Food Lab develops natural plant-based flavor bases for the alternative meat sector.
Vertical farming has become an integral part of the solution to global warming. New office and residential towers around the world have added roof gardens and things like vines along the sides of the buildings. The plants clean the air of CO2 by breathing it in while absorbing heat from the sunlight. This keeps buildings from getting so hot under the sun and so saves on energy consumption as well as costs from use of air conditioning. The same can be done with private homes if people plant vertical gardens along their outer walls.
Using cutting-edge and proprietary technologies, Vertical Field brings all the benefits of nature into the indoor and outdoor urban environment- including air and noise filtration, Co2 absorption, pesticide-free food production, and much more.
The company has been installing active living walls in both indoor and outdoor environments for over 14 years, throughout 500 different projects that enhance both human wellbeing and environmental conditions.
The company’s mission is to lead the transformation of the urban ecosystem by bringing innovation and cutting-edge technology that will integrate nature values with human life.
Vertical Field’s urban farm is an innovative and accessible way to meet the rising population’s need for nutritious food by growing produce in any indoor or outdoor urban space. The unique geoponic (soil-based) platform is capable of growing over 200 types of crops that can be planted and harvested easily, and grow to maturity within 21 days.