For immediate release
November 26, 2019
she1K angel syndicate invests in New York based Farmshelf
she1K expands footprint as part of 1000 corporate women rally to empower, fund and board startups
Nov 26, 2019, Singapore – she1K, the world’s first global corporate executive women angel network, makes a syndicated investment into Farmshelf, headquartered in New York.
What’s unique about Farmshelf?
Farmshelf aims to democratise farming, enabling anyone to grow where they live, work and eat by offering a plug & play indoor bookshelf-like farming system.
Farmshelf’s smart, hydroponic growing systems evoke a space commitment to design, innovation and sustainability while providing meaningful yield in an automated, internet-connected bookshelf-sized device. The system is equipped with all the sensors and tools necessary to monitor the produces’ needs every step of the way and notify the user when to its ready to harvest.
What is the problem Farmshelf is solving?
Food spoilage is an urgent problem in the global supply chain. Food waste, due to their temperature sensitivity, is the #1 contributor to landfill by weight. In fact, a third of all food produced globally is lost or wasted, totaling more than $35 billion a year. A considerable share of these food losses are caused by ineffective cold chain processes and management. As spoilage becomes a big threat to safety and profitability, companies are beginning to embrace new technologies and alternative methods.
Farmshelf’s achievements so far
Farmshelf installations can be found in international hotel chains such as Marriott and Hilton, corporate cafeterias and restaurants. This year, Farmshelf has established more primary school system partnerships and multiple university agreements as the company continues its expansion in foodservice channel. More than 100 systems have been sold or leased, together with a monthly subscription for plant pods in more than 50 varieties.
“Our members are impressed with the experience and commitment of the team to focus on the USA market to leverage the economies of scale of a compelling business model, coupled with strong partnerships established with food service suppliers.” affirms Christina Teo, Chielf Builder, she1K global.
“We are constantly focused on engineering the next level of growth to increase the yield at a lower unit cost with advances in a myriad of technology and intelligence areas that go into each installation.” says Andrew Shearer, co-founder, Farmshelf.
Founded in January 2016, the team, Andrew Shearer, Nick Donald, Suma Reddy and JP Kyrillos combined have deep experience spanning a range of fields including bio-tech, software engineering, advertising tech and brand positioning.
Early investors include Urban-X (accelerator by MINI and Urban Us) programme), Sansiri (Thailand’s leading property developer) and angel investors who are Fortune 500 CEOs and endorsed by celebrity chefs such as Jose Andres.
she1K aims at rallying 1000 corporate women to pool together funds to invest in startups that are industry and gender agnostic, globally. Founded in November 2018, the network also extends to angels – male or female – and co-investing partners such as early stage funds. www.she1K.com
she1K invests in early stage startups – gender and industry agnostic. To-date, she1K has invested in 3 startups.
Effective August 2019, she1K is backed by Enterprise Singapore.
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