Hippo Harvest – a controlled environment agriculture (CEA) startup developing advanced greenhouse systems that produce sustainably grown produce – announced the closing of its $21 million Series B funding round led by Standard Investments. And Congruent Ventures, Amazon’s Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners also joined the round. This funding round will scale the company’s greenhouse operations and expand its product offerings into new categories of leafy greens.
Launched in 2019, Hippo Harvest operates a first-of-its-kind repurposed greenhouse facility in Pescadero, CA, that out-competes traditional greenhouses in scalability and unit economics. This is comparable to traditional outdoor-grown produce prices.
The company utilizes a closed-loop, non-recirculating, direct-to-root fertilizer system, machine learning, and autonomous mobile robots for calculating and efficiently distributing water, fertilizer, light, and heating on a micro-climate basis throughout its greenhouses. The result is significantly more cost- and resource-efficient production of fresh produce. Consumers and retailers enjoy Hippo greens’ superior quality, consistency, and food safety at competitive prices.
Hippo’s farming methods increase food safety and extend shelf life by up to 30% compared to outdoor-grown produce due to several unique factors. The plants are irrigated with purified water and a uniquely customized nutrient blend from below, rather than above, reducing the risk of pathogen and fungus formation caused by water and nutrients touching the leaves.
Off-the-shelf robots with customized attachments are used for tening to and harvest the plants, delivering precise water levels and nutrition for healthier plants. And all production is done in a clean, controlled greenhouse, reducing damage and quality variations in conventional outdoor farming. The products are packed on-site immediately after harvesting, using 100% post-consumer recycled plastic. Rather than conventional chemical pesticides, the company uses beneficial insects, natural oils, and other pesticide-free practices.
Hippo Harvest’s approach to growing produce in greenhouses addresses a critical need to reduce climate change-related volatility in the fresh-food supply chain. It also offers ecological benefits like significantly reducing water and fertilizer use, even in low-water environments or areas with limited agricultural space, and reducing methane-producing agricultural waste caused by traditional farming without sacrificing accessibility and affordability at a commercial scale.
These characteristics increase the availability of locally grown fresh food and provide communities with more accessible water, a cleaner environment, and safer, more stable agricultural jobs without sacrificing accessibility and affordability at a commercial scale.
The company has signed The Climate Pledge, a commitment co-founded by Amazon and Global Optimism for businesses to reach net-zero carbon by 2040. San Francisco residents can now find Hippo Harvest products on the shelf at their local Gus’s Community Markets or online at Amazon Fresh, with more locations coming soon in Northern California.
KEY QUOTES:
“We’re excited by the opportunity to scale our production and reach more consumers with high-quality, sustainable produce. Our team’s work over the past twelve months demonstrates our ability to create modular, cost-effective growing systems that can be deployed across the country. We look forward to working with our investors to make it a reality.”
- Hippo Harvest CEO Eitan Marder-Eppstein
“Since inception, Hippo has delivered superior produce while maintaining cost efficiencies. Standard invests in companies disrupting traditional industry and we are thrilled to partner with Hippo on its journey to scale.”
- Logan Ashcraft, Principal at Standard Investments, who joins Hippo’s Board of Directors
