The Swedish Food Tech company Ljusgårda raises SEK 170 million in new capital

- To fight the climate crisis, we must reduce imports and bring more food production home. We want to make agriculture a hot sector again and contribute to that the food on our plates are being sustainably produced in the country where it is eaten. It requires investments, so it is important that we now have this new capital to continue to increase our production. Ljusgårda is already the largest indoor farm in the Nordic region, and with the new investment, the aim is to become the largest in Europe within a year, says Andreas Wilhelmsson, CEO at Ljusgårda.

With a circular irrigation system, renewable electricity and without pesticides, Ljusgårda grows lettuce indoors all year round. Recently, the food tech company has closed a financing round and raised SEK 170 million in new capital. Among those who invested in Ljusgårda is the tech fund Back in Black Capital, which is supported by the Swedish Lundin family and Per Brilioth.

- This is our first investment in food tech. Ljusgårda is a super exciting company with great potential. We look forward to working together towards a more sustainable future, says Alexandre Mordasini, Back in Black Capital, who now will become a part of Ljusgårda's board.

Philian, which is owned by H&M's chairman Karl-Johan Persson, has previously invested in Ljusgårda and is now investing more capital.

- Thanks to new technology, Ljusgårda has better ways to optimize plant growth than traditional farming and provide consumers with sustainably produced salad. We want to be part of creating Europe's largest company for indoor farming, says Björn Magnusson, advisor at Philian.

Jula Miljö & Energi is also expanding its investment in Ljusgårda.

- By investing in companies with a clear sustainability profile and climate-smart solutions, we want to take long-term environmental responsibility for future generations. The exciting journey that Ljusgårda is on with its innovative and sustainable indoor farm of lettuce is something we want to be a part of, says Karl-Johan Blank, owner and CEO.

Ljusgårda grows lettuce vertically indoors in a 7,000 square meter facility in Tibro, Sweden. Last year, the expansion of another 18,000 square meter facility began. All electricity used is renewable and the transport distance to Swedish stores is significantly shorter than for imported salad. Ljusgårda can offer delivery of ready-cut salad to Swedish stores within 24 hours after harvest.

- Imported food stands for 60 percent of the climate impact from our food consumption in Sweden. With circular water systems, green electricity and without pesticides, we produce the world's most sustainable salad in Tibro. In 2022, we expect to raise additional capital to be able to grow even more, says Andreas Wilhelmsson.