Future crops

About Future crops

Future Crops, an Israeli-Dutch agricultural technology venture established in 2016, specialized in vertical farming. The company was co-founded by Gary Grinspan, who serves as the CEO, and emerged from a collaboration with the Israeli Agricultural Research Organization (ARO) and A&F Ventures. After leaving a corporate career at major CPG food companies, Grinspan sought to create a more sustainable and resilient food system. The initial concept was also driven by the need to grow pesticide-free produce to meet Jewish dietary (kosher) standards.

The company operated in the vertical farming market, growing fresh herbs and leafy greens for retailers and wholesalers in Europe. Its business model included direct sales of its produce, under both its own brand and private labels, and offering an "Ag-as-a-Service" platform to build and operate vertical farms for strategic partners. Future Crops distinguished itself by utilizing a proprietary soil-based substrate, arguing that this medium is more natural for plant growth compared to the more common soilless, hydroponic systems. This approach, combined with data-driven technology controlling over 70 environmental parameters like light, humidity, and temperature, was designed to maximize yields and enhance the natural taste and aroma of the crops.

Future Crops developed a fully automated, 8,000-square-meter, nine-story vertical farm in Poeldijk, Netherlands, a major European greenhouse hub. This facility was primarily powered by solar energy and designed for high-precision agriculture, allowing for year-round, pesticide-free cultivation of crops like basil, parsley, and leafy greens. The company secured an initial $30 million in seed funding from an equity arm of the Lerman Family to build the facility and team. In March 2022, it announced a new investment round led by Tencent to accelerate growth and expand R&D capabilities. Despite these developments, Future Crops faced significant challenges, scaling back production in late 2022 due to high energy costs. The company ultimately filed for bankruptcy and entered liquidation in January 2023.