Oishii Farm Raises 24 Billion Yen in Series C First Close – Accelerating the Challenge to Create a "100 Trillion Yen Industry" through Open Innovation, Built on Japanese Technology

Oishii Farm Corporation (CEO: Hiroki Koga, hereinafter "Oishii Farm"), a company developing plant factories with the aim of achieving sustainable agriculture and exceptionally "delicious" produce, has completed the first close of its Series C funding round, raising approximately 24 billion yen (converted to Japanese yen). This brings Oishii Farm's cumulative funding to 52.5 billion yen.

In this close, SPARX Asset Management Co., Ltd. served as the lead investor among existing investors, with additional investments from several other existing investors. Furthermore, companies leading various Japanese industries have joined as open innovation partners, making new investments and commencing collaborations. In addition, to expand its Japanese operations, Oishii Farm has secured new loans from several domestic financial institutions, including Mizuho Bank, Ltd.

By adding new fields such as machinery parts, real estate, and construction to areas where Japan excels, including seeds and seedlings, IoT, water treatment, and robotics, Oishii Farm has strengthened its cross-industrial collaboration system, combining the strengths of Japanese agriculture and industry. This will accelerate open innovation towards realizing sustainable agriculture and creating new global industries originating from Japan.

**Business Progress and Outlook**

Oishii Farm was founded in 2017 in New Jersey, near New York, USA, with the aim of contributing to the resolution of agricultural and food crisis issues. The company has expanded its business by achieving stable mass production of strawberries in plant factories, a crop previously considered difficult to cultivate in such environments outside of leafy greens.

**Expansion of US Sales Regions and Entry into Canada**

Starting sales at $50 per pack in 2018, technological innovations and improved production efficiency subsequently allowed the price to be reduced to $10 per pack by 2023, while maintaining quality. Furthermore, with technological advancements at "Megafarm," the world's largest strawberry plant factory which began full-scale operation in 2024, the company has successfully launched premium mass-market products at $7.99.

Sales regions are expanding, primarily along the US East Coast. In February 2026, sales also commenced in Toronto, Ontario, Canada. Currently, Oishii Farm operates in 18 states primarily along the US East Coast and one Canadian province.

**Establishment of Open Innovation Center and Organizational Expansion in Japan**

In 2025, Oishii Farm decided to establish a plant factory research facility, the "Open Innovation Center," in Japan, securing a site in Hamura City, Tokyo, with a total floor area of over 15,000 square meters (more than two football fields).

Since moving in in May of the same year, construction and business launch have progressed rapidly, with some research and development already underway and research strawberries being produced. The number of employees at the Japanese subsidiary has also expanded from just 1 as of December 31, 2024, to over 70 currently.

**Global Expansion of the "Plant Factory Package" integrating Japanese Technology**

The Open Innovation Center, scheduled for official opening in the summer of 2026, is expected to become the world's largest research and development base dedicated to plant factories. In Japan, which boasts world-class technological capabilities in both "horticultural agriculture" and "industry"—both essential for plant factories—Oishii Farm will promote the advancement and standardization of various core technologies it has independently developed through open innovation with leading companies in each field, preparing for global expansion.

The facility allows for demonstration cultivation on a scale of tens of thousands of plants and is equipped to simultaneously test hundreds of different cultivation environments. Furthermore, because it operates in an environment unaffected by seasons, "super-accelerated research" can be conducted at a pace far faster than normal agricultural cycles. Utilizing this mechanism, Oishii Farm has already begun developing plant factory-specific varieties, a world first.

In addition to NTT Corporation, Ebara Corporation, Daiwa House Ventures Co., Ltd., Mizuho Bank, Ltd., Mitsubishi Shokuhin Co., Ltd., and Yaskawa Electric Corporation, who participated in previous funding rounds, collaborations are also progressing with Asahi Kogyosha Co., Ltd., Nomura Real Estate Development Co., Ltd., and MISUMI Group Inc., who joined in this Series C first close. Going forward, Oishii Farm will continue to explore new partnerships in various fields such as air conditioning equipment, LEDs, trading companies, and insurance.

**Examples of Investors & Open Innovation Partners**

Specifically, Oishii Farm has started collaboration with NTT Corporation in the IoT and equipment sector, which is essential for plant factory operations. Additionally, partnerships are advancing for agricultural automation, utilizing robotics from Yaskawa Electric Corporation and mechanical parts from MISUMI Group Inc. For large-scale facility development, discussions are underway with Nomura Real Estate Development Co., Ltd. regarding real estate development and with Asahi Kogyosha Co., Ltd. regarding the standardization of construction processes. Furthermore, Oishii Farm is exploring collaboration possibilities with Mitsubishi Shokuhin Co., Ltd. in the retail and distribution sectors.