Vertical indoor strawberry grower Oishii says it has closed on $134 million in Series B funding.
Oishii says the funds are expected to accelerate its growth. The brand will open a solar-powered facility, expand distribution to new markets and continue to invest in advanced robotics and energy-saving innovations, according to a news release.
Led by Japan's telecommunication firm NTT, the round also attracted a diverse group of investors with expertise in food tech, sustainable agriculture and automation, the release said.
“We founded Oishii to solve some of the biggest food supply issues our world faces today — but to do so deliciously,” Hiroki Koga, CEO and co-founder of Oishii, said in the release. “The time is now to take our technology from a promise of a better tomorrow to a proven reality — making good on the movement my predecessors in Japan started a decade ago. This capital will help us pave the way for mainstream adoption of vertical farming in the U.S., and we’re grateful to welcome many new partners to the Oishii family who share our vision of a sweeter future.”
The company says it delivers a highly differentiated product — from the Omakase Berry to the flagship Koyo Berry and its new Rubī Tomato. Oishii plans to unveil another type of berry later this year, according to the release.
Oishii says a commitment to efficiency is one of many reasons for its success. Major breakthroughs include introducing harvesting robots developed in partnership with investor Yaskawa, as well as optimizing the artificial intelligence models that power bee pollination, environmental controls and farm output to grow more with less energy and water, the release said.
“While many in the industry prioritize short crop cycles and unrelenting expansion, Oishii has bucked all trends by emphasizing taste over timelines and profitability over proliferation,” Akira Shimada, president and CEO of NTT, said in a news release. “Oishii is a leading company with a great vision, a strategic approach, and one-of-a-kind technology, and has succeeded in what was previously considered difficult to achieve. We are confident that Oishii will be a great partner to take on the challenges for the future of agriculture.”
As the only U.S. vertical farm to sell strawberries year-round, Oishii says it marries nature, technology and farming techniques perfected for decades in Japan to grow its fruit. Grown pesticide-free, every Oishii product bears the Non-GMO Project Verified seal and is always in season.
Oishii introduced its first strawberry, the Omakase Berry, in 2018, which caught the attention of Michelin-starred chefs, tastemakers and consumers for its sweetness, aroma and creamy texture, the release said. In February 2023, the company unveiled its second strawberry, the Koyo Berry, known for its refreshing sweetness and balanced acidity. Two months ago, Oishii revealed the jewel-like Rubī Tomato.
Oishii’s funding news comes on the heels of the brand’s expansion across the Northeast. In June 2023, Oishii launched its Koyo Berry in the Washington, D.C., area before bringing the fruit to Maryland, Massachusetts, Connecticut and New Jersey, the release said. Oishii products are available at Whole Foods Market, FreshDirect and in a number of specialty grocers; each tray retails between $10-$15.