Yasai reaches €1.4 million in crowdfunding campaign

Founded by Mark Essam Zahran, Philipp Bosshard and Stefano Augstburger, Yasai aims to create local, resilient food supply chains by integrating Vertical Farming as an infrastructure based on a circular economy. Vertical Farming has the potential to increase some yields by up to 200x/sqm, with 95% less freshwater, 100x fewer food miles, and 0 pesticides. Moreover, the global Vertical Farming industry is set to grow from $4.3bn in 2020 to $33bn by 2030 at a CAGR of 25.5%.

Yasai’s goal is to double production capacity to 40t p.a. to meet their prospective consumers’ increasing demand and with the anticipated market growth, the startup is envisioned to become one of the leading player. The startup plans to cover the food value chain holistically, from farm to fork, in a hyperlocal and traceable manner.

Since its founding, the team has financed, built and operated its first vertical farm, and intends to replicate this approach to scale the model with further farms. In 2021, one year after its incorporation, Yasai became pre-revenue, generating a €-1.14m loss. Following its official market launch in January 2022, the startup attracted COOP, Switzerland's leading retailer that brought Yasai products into its shelves in 80 COOP stores. This deal has enabled the company to achieve 16 times revenue growth in the first half year of 2022, bringing the total revenue generated to CHF21.9k (€22.48k)/month.

According to the company, demand from prospective customers exceeds its estimated current maximum output capacity (20T) by 2.8 times, confirming the appetite for its products. Producing throughout the year regardless of weather conditions, Yasai wants to offer a robust alternative to food imports in the country (48% for herbs) and become a leader in the €240m revenue p.a. herbs market (CAGR: 4.5%).

Thanks to their unique approach, the startup has already attracted 408 investors who contributed €1,369,360million through the crowdfunding platform Crowdcube. The amount surpasses the initial target of €850,000. Pre-registered users got priority access from August 15 but as of August 23, the campaign was opened to everyone. In 14 days the campaign will end. With the convertible equity, payments will be transferred directly to the company and shares issued at a future date.

The funds will enable the startup to scale up its farming facilities, open a branch office in Singapore and strengthen its presence in the European market.

(RAN)