MassChallenge and Techstars Boston alum Freight Farms announced Monday it has raised $1.2 million in a Series A round led by Morningside Venture Investments Limited. Also participating in the round were LaunchCapital and Rothenberg Ventures. The startup will reportedly use the newfound capital to expand its community of local food producers in North America and beyond, according to the release.
Since the company's start in 2010, the social impact startup has been hard at work scaling its shipping-containers-turned-faming-solutions product with the help of Boston's supportive innovation community. Freight Farms participated in MassChallenge in 2012; this year, the green company took part in the Techstars Boston accelerator.
Freight Farms co-founders Brad McNamara and Jonathan Freidman developed a shipping container to cultivate produce all year long by leveraging hydroponics, LED lighting, crop-monitoring software and vertical growing systems.
The company took its product commercial just over a year ago, and reports that its customers – schools, businesses and organizations of all sorts – are now growing their own veggies in Freight Farms' upcycled shipping containers.
