iFarm Raises $4 million to automate urban farming with AI and drones

Gagarin Capital led the round of funding, which included investment from Matrix Capital, Impulse VC, IMI.VC, and some business angels. The Finnish startup has developed a vertical agricultural system called iFarm Growtune. By growing food closer to consumers and in spaces where conditions can be carefully controlled, iFarm promises to produce food that is fresher while reducing environmental impact. As companies rethink logistics and the environment in the wake of the pandemic, self-contained urban farms hold growing appeal. "The main advantage of indoor farms is that you can be growing all year round, wherever you are," said iFarm cofounder and CEO Max Chizhov.