Langley’s CubicFarms has raised $22 million in a bought deal with the proceeds earmarked to further expand the company’s research and development.
CubicFarms has developed fully automated technology that empowers farmers to provide independent local food access, maximize crop yields, and reduce environmental costs.
CubicFarms was recently honored by Fast Company magazine with a 2021 Fast Company World Changing Idea Award.
Fast Company recognized CubicFarm’s two main technologies, the CubicFarm System for growing fresh produce and the HydroGreen Grow System for growing fresh livestock feed consistently and profitably in any climate, 365 days a year.
Having recently added former Microsoft GM Edo De Martin as its Chief Technology Officer, and with R&D spending soaring 197 percent in 2020, CubicFarms is another example of a local company helping BC’s tech sector to level-up.
Technology Capital Markets veteran Tom Liston joined CubicFarms last month as Vice President of Corporate Development. Liston’s hire confirmed that CubicFarms is serious about delivering value to shareholders, including Ospraie Ag Science which owns just over 20% of the company.