Oishii Company Profile

Background

Oishii is a pioneering vertical farming company specializing in the cultivation of premium fruits, notably Japanese strawberry varieties, using advanced indoor farming techniques. Founded in 2016 by Hiroki Koga and Brendan Somerville, Oishii aims to revolutionize agriculture by combining traditional Japanese farming practices with cutting-edge technology to produce high-quality, pesticide-free fruits year-round. The company's mission is to introduce Japanese fruit culture to the U.S., offering consumers consistently delicious produce regardless of seasonality.

Key Strategic Focus

Oishii's strategic focus centers on delivering exceptional taste and quality through innovative vertical farming methods. The company specializes in cultivating high-value crops such as the Omakase Berry and Koyo Berry—Japanese strawberry varieties renowned for their sweetness and aroma—as well as the Rubī Tomato. By leveraging proprietary technologies and sustainable practices, Oishii targets urban markets seeking premium, locally grown produce. The company's emphasis on quality over rapid expansion sets it apart in the vertical farming industry.

Financials and Funding

Oishii has successfully secured substantial funding to support its growth and technological advancements:

• Series A Funding (2021): Raised $50 million, led by SPARX Group's Mirai Creation Fund II, with participation from Sony Innovation Fund, PKSHA Technology, and Social Starts. This funding facilitated the expansion of farming operations and R&D initiatives.

• Series B Funding (2024): Secured $134 million, led by NTT, with contributions from Bloom8, McWin Capital Partners, Mizuho Bank, Mitsubishi Shokuhin Co., Ltd., Japan Green Investment Corporation for Carbon Neutrality (JICN), and Yaskawa Electric Corporation. The capital is earmarked for opening a solar-powered facility, expanding distribution, and investing in advanced robotics and energy-saving innovations.

These investments underscore investor confidence in Oishii's innovative approach and market potential.

Pipeline Development

Oishii's product portfolio includes:

• Omakase Berry: An artisanal Japanese strawberry variety known for its sweetness, aroma, and creamy texture.

• Koyo Berry: A strawberry variety celebrated for its balanced sweetness and acidity.

• Rubī Tomato: A jewel-like tomato with a bright red, delicate skin and surprising sweetness.

The company plans to introduce additional berry varieties and expand into other high-value crops like melons, aiming to diversify its offerings and meet growing consumer demand for premium produce.

Technological Platform and Innovation

Oishii distinguishes itself through several proprietary technologies and innovative practices:

• Bee-Assisted Pollination: Utilizes a proprietary method to maintain bee populations within indoor farms, enabling natural pollination of flowering crops—a significant advancement in vertical farming.

• AI and Robotics: Employs artificial intelligence to optimize environmental controls, monitor crop health, and enhance farm output. Collaborates with Yaskawa Electric Corporation to develop state-of-the-art harvesting robots, improving efficiency and scalability.

• Sustainable Practices: Operates pesticide-free, non-GMO farms with a focus on energy efficiency, including plans for solar-powered facilities to reduce environmental impact.

Leadership Team

• Hiroki Koga, Co-Founder and CEO: Born and raised in Japan, Koga has extensive experience in agricultural technology and consulting. He founded Oishii to bring Japanese fruit culture to the U.S., combining traditional practices with modern technology.

• Brendan Somerville, Co-Founder and COO: With a background in international business and agriculture, Somerville co-founded Oishii to address challenges in the produce industry and has been instrumental in scaling operations and strategic planning.

Competitor Profile

Market Insights and Dynamics

The global vertical farming market is projected to reach $12 billion by 2026, driven by increasing demand for fresh, locally sourced produce and advancements in agricultural technology.

Competitor Analysis

Key competitors in the vertical farming space include:

• Plenty Unlimited: Focuses on leafy greens and has partnered with Driscoll's to explore indoor strawberry cultivation.

• Infarm: Based in Germany, Infarm installs modular vertical farms in supermarkets and restaurants, growing a variety of herbs and leafy greens.

• Bowery Farming: Specializes in growing pesticide-free leafy greens and herbs in urban environments, emphasizing sustainability and technology.

Oishii differentiates itself by focusing on high-value, complex crops like strawberries and tomatoes, leveraging unique technologies such as bee-assisted pollination and AI-driven farm management.

Strategic Collaborations and Partnerships

Oishii has established significant partnerships to enhance its technological capabilities and market reach:

• Yaskawa Electric Corporation: Collaborates on developing advanced harvesting robots, integrating automation into farming operations.

• NTT: Partners to leverage telecommunications expertise for optimizing farm operations and data management.

• Misfits Market: Teamed up to launch "Wabi-sabi Berries," aiming to reduce food waste by offering perfectly imperfect fruit to consumers.

Operational Insights

Oishii's strategic approach focuses on:

• Quality Over Quantity: Prioritizes delivering exceptional taste and quality, setting