agrilution closes Series A with Tengelmann Ventures, Kraut Capital and OSRAMs Fluxunit to prepare for market entry
Press Release: Munich based startup agrilution closes Series A with Tengelmann Ventures, Kraut Capital and OSRAMs Fluxunit. agrilution is preparing the market entry of their plantCube, a plug and play device enabling anyone to grow fresh leafy green vegetables, herbs and lettuces at home - all year round.
The capital will be used to expand the team and prepare for mass production, marketing and after sales service. agrilution is bringing to market the first premium plug and play home-growing appliance that enables anyone to grow the freshest and most taste intense vegetables, herbs and lettuces. The plantCube is part of an ecosystem of products that agrilution has developed to eliminate the need for a green thumb - enabling anyone to produce their own fresh and healthy food at home. It comes with an App and seeds to ensure continuous high yields and great taste. The plantCube identifies the seeds that have been planted and provides an optimal growing environment by automatically regulating temperature, watering, and lighting conditions. This makes it possible to grow fresh and healthy herbs, salad and vegetables regardless of weather and climate.
The investment from Fluxunit, the venture capital fund of OSRAM, strengthens the strategic partnership with agrilution. OSRAM supports agrilution with smart LED solutions and horticultural expertise. For OSRAM it's an important step into the Vertical Farming and Controlled Environment Agriculture space. Tengelmann Ventures and Kraut Capital already invested in the previous round and made a clear statement by increasing their investment in the Series A.
agrilution, based in Munich, was founded by Maximilian Lössl und Philipp Wagner in 2013 and is active in the space of smart home appliances and vertical farming. agrilution offers a complete vertical farming ecosystem consisting of a smart plug’n’play home-growing appliance and consumables, as well as an App that eliminates the need for a green thumb. Thereby we enable you to grow the healthiest, freshest most taste intensive greens in your own home. Additional information can be found at http://agrilution.com.
ABOUT OSRAM
OSRAM, based in Munich, is a globally leading lighting manufacturer with a history dating back about 100 years. The product portfolio includes high-tech applications based on semiconductor technology such as infrared or laser lighting. The products are used in highly diverse applications ranging from virtual reality, autonomous driving or mobile phones to smart and connected lighting solutions in buildings and cities. In automotive lighting, the company is the global market and technology leader. Based on continuing operations (excluding Ledvance), OSRAM had around 24,600 employees worldwide at the end of fiscal 2016 (September 30) and generated revenue of almost €3.8 billion in that fiscal year. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.
