The TitletownTech venture capital fund, a $25 million fund and venture studio led by the Green Bay Packers and Microsoft, is investing in a Wisconsin agriculture technology startup that makes hydroponic systems.
Appleton-based Fork Farms' indoor vertical farming system, called the Flex Farm, was designed to eliminate food transportation costs, consume 97% less water than traditional agriculture practices, and be 40% more energy efficient compared to hydroponic systems currently in the market.
“Low accessibility of fresh food is a huge problem for many people, and Fork Farms is a great example of local entrepreneurs chasing a big opportunity to make positive change," said Craig Dickman, the managing director at TitletownTech, in a statement.
During the last 12 months, TitletownTech has invested in more than a dozen startups. Two of those startups have relocated their headquarters to Green Bay following the investment and including Fork Farm, 10 of TitletownTech’s investments are companies based in Wisconsin.
The fund, which is managed from the Packers' Titletown District in Green Bay, writes checks between $100,000 and $1 million.
“TitletownTech is an incredibly innovative model that will significantly bolster the local start-up economy," said Fork Farms founder Alex Tyink. "It provides an exemplary blueprint that should be followed by other organizations around the country. The depth of support is unprecedented and will provide Fork Farms significant acceleration and lift to our organization's mission of unleashing the power of fresh food production."
