Significant Funding for Innovative Solutions
RED Horticulture, a Lyon-based company specializing in LED lighting solutions for greenhouses and research centers, has recently secured a significant €17 million in Series A funding. This substantial investment round was led by the European Circular Bioeconomy Fund (ECBF), Demeter IM, and Unigrains, marking a notable milestone in the company's growth trajectory. Additional financial support was provided by a consortium of banking institutions including BPI, BNP Paribas, CIC, Crédit Agricole, and Société Générale, along with support programs from BPI.
A Vision for Sustainable Agriculture
Founded in 2018 by Yassine EL QOMRI and Louis GOLAZ, RED Horticulture aims to revolutionize greenhouse operations through its advanced LED lighting solutions. The company’s unique dynamic spectrum LED lights are designed to precisely activate the photoreceptors of plants, controlled via their AI-powered platform, MyRED. This innovative approach not only reduces energy consumption but also significantly increases crop yields, shortens crop development times, and enhances the quality of the produce. Case studies have shown remarkable improvements, with strawberry growers reporting a 35% increase in yields and a 20% reduction in time from sowing to harvesting. Similarly, young plant breeders have achieved up to 60% reductions in energy consumption while enhancing crop morphology.
CEO's Perspective on Growth and Innovation
Louis GOLAZ, CEO of RED Horticulture, reflects on the company's impressive growth in a highly competitive market. He attributes their success to the unique advantages of their dynamic lighting solution, which is user-friendly, highly flexible, and scalable. This approach has differentiated RED Horticulture in the industry, allowing them to provide solutions that are not only technologically advanced but also tailored to the needs of modern agriculture.
Future Plans and Utilization of Funds
RED Horticulture intends to use this new influx of capital to further develop its high-performance lighting strategies. This will involve close collaboration with customers and innovation partners, aiming to expand the acceptance of RED solutions across various market segments. In addition, the company plans to bolster internal research at its Photobiology & Agronomic Research Centre (PARC) in Nantes, France. This research center is pivotal in advancing the company's agronomic capabilities and sustaining its innovation drive.
Conclusion
RED Horticulture's recent funding success is a testament to the growing importance of sustainable and technologically advanced solutions in agriculture. With its cutting-edge LED lighting technology, RED Horticulture is not just illuminating greenhouses but also paving the way for a more efficient and sustainable future in agricultural practices. As the company continues to grow and innovate, it stands as a beacon of progress in the transition towards a more environmentally friendly and resource-efficient agricultural industry.