Natufia Labs, Estonian-born startup developing machine-learning technology that grows plants right in your kitchen, announced the closing of a $1.2-million seed round today led by Butterfly Ventures, Techstars, and the Dubai-based family office Ginco Investments. The funds raised will be used to enable the company to expand into Europe and the US and will be on sale imminently.
“Natufia Labs’ dynamic team has a groundbreaking impact on producing fresh food and changing the ways people consume it,” shares Juho Risku, partner at Butterfly Ventures. “Natufia Labs is changing the traditional agriculture model, which has $10B+ in annual revenue in the United States alone.”
Around 70% of the world’s consumers have reduced or completely cut out meat consumption from their diets. With veganism rising by 600% in the US and 350% in the UK the global appetite for meat-free and plant-based diets is driving the market to be worth $5.2 billion by 2020. The sales of vegetables alone is estimated to increase by 20% by 2021. However, consumers are struggling to keep this produce fresh and on average one third is thrown away. Estonian-born startup, Natufia Labs is bridging this gap by offering consumers sustainable agriculture at home.