The CMA CGM Group has decided to support the financial and industrial development of Agricool, a French start-up specialising in urban agriculture, in order to enable it to launch its industrialisation phase
Founded in 2015 in Paris, Agricool aims to create urban farms in recycled containers. It aims to produce fruit and vegetables without pesticides, picked and sold on the same day and prioritising short circuits. Several containers are currently being tested.
In Paris, Agricool grows strawberries by saving 90% of water and nutrients compared to classical agricultural methods and uses renewable energy only. These strawberries are claimed to contain an average of 20% sugar and 30% vitamin C more than retail store strawberries.
Last Autumn, CMA CGM provided its first concrete support to Agricool by offering technical and logistical support for the delivery and installation of a "cooltainer" in Dubai.
In December, Agricool completed a €25M fundraising campaign to finance the industrialisation of its innovative project. CMA CGM acquired an equity stake in the company through its investment fund, CMA CGM Ventures.
Joël Gentil, Senior Vice President - Container Logistics Department of the CMA CGM Group, said: “With this partnership, the CMA CGM Group confirms its commitment to support the development of start-ups that innovate in a relevant way. In line with our commitment to sustainable development, this solution allows us to recycle containers and give them a second life.”
Other "business angels" supporting the €25M funding round included Bpifrance, Danone Manifesto Ventures, Marbeuf Capital and Solomon Hykes. Some existing investors also participated, such as daphni, XAnge, Henri Seydoux and Kima Ventures.