SSUG Flagship Fund I makes first investment in vertical farming

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09.06.2020
Drone monitoring at Growcer

In May 2020, the Swiss Startup Group launched the SSUG Flagship Fund I to invest in early-stage companies. The first startup benefiting from the Fund is the vertical farming Growcer, which secured a significant six-digit amount.

One year following its incorporation in 2019, Growcer has set up the first automated vertical farm in Basel that leverage Robotics and Artificial intelligence to run all tasks from sowing, irrigation to harvesting. The farms can be used for the production of leafy greens, berries and herbs all year round regardless of weather conditions and with no pesticides and 90% less of water than field cultivation. The closed climate allows the farm to guarantee a constant production with consistent quality, output and costs.

To support the development of Growcer and its innovation, the Swiss Startup Group through its recently launched SSUG Flagship Fund I has invested in the company. According to Mike Baur, CEO Swiss Startup Group, Growcer received a significant six-figure amount from the Fund. Two family offices of successful Swiss entrepreneurs also contributed to the investment as part of the pre-seed funding round.

“Vertical farming is more than just a trend. In times when the world is faced with challenges like feeding a growing population – mostly in cities – land and water shortage, there is a real need for new approaches to how and where food is produced. The current COVID-19 crisis has also clearly shown that alternative food tech concepts have great potential and that the vertical farming sector will experience strong growth. Growcer is a very promising early-stage company that operates in a sector with great growth potential. Also, it is very well positioned and has a great competitive advantage as the first mover on the Swiss market”, said Max Meister, General Partner of the SSUG Flagship Fund.

“With Swiss Startup Group we gained a strong partner and excellent team, broad network and investor with deep business knowledge. The investment enables Growcer to intensify our R&D and leverage our automation concept, which is key to cost-efficiency in vertical farming. Their support will allow us furthermore to keep up with the increasing demand for our farms”, says Marcel Florian, CEO of Growcer.

About the SSUG Flagship Fund I
Swiss Startup Group has set up its own venture investment fund, the SSUG Flagship Fund I, with the aim of investing in early-stage companies and conducting follow-on investments in its existing portfolio. It is dedicated to qualified private and institutional investors who want to invest in early-stage ventures through a diversified approach and on a discretionary basis. It is a suitable solution for all investors who wish to delegate investment decisions to a skilled team of venture professionals. Swiss Startup Capital AG a fully owned subsidiary of Swiss Startup Group AG, is responsible to manage the SSUG Flagship Fund I.

(Press release/RAN)
Photo: Growcer

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