Farmdrop lands £3m in investment

Online farm foods company Farmdrop that allows people to buy food direct from local farmers and producers, has landed £3 million in investment in its latest round of funding.

Atomico, the investment company set up by Niklas Zennström led the investment.

According to Ben Pugh the company founder, Farmdrop’s USP is its closed loop “click to harvest” technology that makes it easy for consumers to buy the freshest food direct from local farms. The Bermondsey based business said that it has grown its customer base by 230% year on year, since it launched in 2014. It raised a £750,000 investment on crowd funding platform CrowdCube, and now has a growing number of influential foodie fans including TV chefs Gizzi Erskine and Thomasina Miers.

Investment company Atomico was founded in 2006 with a mission to invest in innovative technology companies that are on the way to becoming category leaders. There were a number of other investors who include JamJar Investments which is run by the three Innocent juice company entrepreneurs Jon Wright, Richard Reed, and Adam Balon.

In addition to the two major investors, further funding was won from Jonathan Goodwin, co-founder of Lepe Partners and Founders Forum, Jason Goodman, CEO and founder of Albion, as well as previous angel investors Alex Chesterman, founder of Zoopla and Quentin Griffiths, co-founder of ACHICA and ASOS.

Saying what appealed about Farmdrop, Katie Leviten, Investment Manager at JamJar, commented: “Farmdrop taps into two key consumer grocery trends: fresher and sourced locally.  Farmdrop is a win-win, the shopper and their family get delicious fresh food and the farmers are fairly rewarded which makes the model a sustainable improvement to the current status quo.”

With the fashion for going for ever more local and more seasonal foods, Farmdrop seems to be capturing the zeitgeist and may well harness the web to give farmers and consumers a new point of contact.

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