Fieldless Farms Raises $17.5M for Major ExpansionAugust 1, 2022
Cornwall, Ontario – Fieldless Farms has raised $17.5 million to expand operations at its Cornwall facility. The expansion is expected to grow production ten-fold, and will help Fieldless better meet demand for its cut lettuce mixes, and at the same time introduce new products to displace imports with local and more sustainable options in high-volume grocery categories.
“Since launching across the Farm Boy chain in 2019 we’ve been propelled by the enthusiasm for our products. Canadians are hungry for better options and we can’t keep shelves stocked,” said Fieldless CEO, Jon Lomow. “Fieldless is directly addressing long, complicated and mostly foreign supply chains by offering products that are local and more sustainable, but most of all, that people fall in love with.”
The financing round was led by Canada’s most experienced Ag & Food fund, Forage Capital Partners and includes Farm Credit Canada (FCC) and BDC, the bank for Canadian entrepreneurs.
“We really like Fieldless’ approach and what the company has been quietly and cost effectively building here in Canada,” said Jim Taylor, CEO of Forage Capital Partners. “We think the company is well positioned in the current economic climate for steady and significant growth.”
BDC participated equally in the debt portion of the fundraise with FCC.
“BDC is thrilled to be working hand-in-hand with FCC to support Fieldless with its expansion plans. A greener future is on the horizon, when we invest side-by-side in projects that are essential for Canada’s food sovereignty,” said Kunle Tauhid, BDC’s Vice President for Eastern and Northern Ontario.
Fieldless Farms’s Cornwall operation is based in the Cornwall Business Park and grows no-need-to-wash leafy greens using highly-controlled environments, renewable energy, and without herbicides or pesticides. Shortly after launching, Fieldless Ontario Sweets and Northern Crunch lettuce mixes obtained listing across Ontario in Farm Boy, in addition to a handful of independent grocers.
“In Canada we import around $60 billion worth of food each year and happen to have the largest trade deficit in the world for lettuce. We rely on other nations to feed us, and it’s risky and unsustainable,” said Mr. Lomow. “We’re building Fieldless to address that massive opportunity—the need to locally produce food that is safer, secure, and more sustainable, 365 days a year.”
About Fieldless Farms
Fieldless Farms is a modern food and Controlled Environment Agriculture company focused on solving food sovereignty and sustainability, based out of Ottawa and Cornwall, Ontario. The company launched in 2019 to displace foreign products and complex supply chains with safer, secure, more sustainable foods that people fall in love with. Fieldless products can currently be found in Farm Boy and independent retailers across Ontario. For more info, visit Fieldless online:
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