Failed 2023

    Infarm

    Berlin's vertical-farming unicorn raised $600M to grow herbs in supermarkets across Europe, then exited every European market in 2023 as the energy crisis destroyed already-thin unit economics.

    Founded → Closed

    2013 → 2023

    Funding Raised

    $600M

    Industry

    AgTech/Vertical Farming

    Country

    Germany

    Full Analysis

    Infarm was founded in Berlin in 2013 and became Europe's most-funded vertical farming startup, reaching unicorn status in 2021 after raising $200M from Qatar Investment Authority. Operating modular hydroponic units in supermarkets across 11 countries, the company employed 1,000+ at peak. The 2022 European energy crisis (electricity prices 4-5x higher) collapsed already-marginal unit economics. In late 2022 Infarm laid off 50% of staff, then in 2023 exited the UK, France, Denmark, the Netherlands and Germany itself — retreating to Canada, the US and the Middle East. A defining European vertical-farming failure.

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