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Oishii Secures $16 Million in Investor Financing, Continues Expansion
Oishii, the indoor strawberry farm based in Jersey City, has recently secured an additional $16 million in investor financing, bringing its total fundraising to $150 million. This funding will support the company’s expansion efforts in the U.S. and beyond, including entering the Chicago market and opening its first international facility in Tokyo, Japan.
The latest round of fundraising was led by Resilience Reserve, a climate tech fund co-founded by Chris Anderson and Rob Reid, along with Japanese venture firm Miyako Capital. This influx of capital will enable Oishii to further grow its reach and explore new markets.
Oishii’s Vision for the Future
Despite challenges in the industry, CEO Hiroki Koga remains optimistic about Oishii’s future. The company aims to expand sales globally and has already secured partnerships with high-end establishments like Michelin-starred restaurants and artisanal coffee shops in Chicago.
Koga believes that vertical farming is key to a sustainable and delicious future, where food is more accessible and of higher quality. With the new funding, Oishii plans to invest in product expansion and research and development to further enhance its offerings.
Oishii’s Growth Trajectory
In June 2024, Oishii opened a state-of-the-art smart farm in Phillipsburg, New Jersey, equipped with cutting-edge technology to increase its output significantly. The company is also expanding its presence in retail stores across various regions, with plans to open an Innovation Center in Tokyo focused on technological advancements in vertical farming.
Oishii’s premium strawberries, known as Koyo and Omakase berries, have gained global acclaim for their year-round availability and high-quality packaging. The company’s products are priced at around $10 per 8-count and are also available at select grocers.
Standing Out in a Competitive Market
While other indoor farming companies face challenges, Oishii’s focus on strawberries has set it apart from the competition. The company’s strategic approach and commitment to innovation have positioned it as a leader in the industry, with a strong emphasis on quality and sustainability.