RED Horticulture, based in Lyon, France and specializing in LED technology for greenhouses and research centers, has secured €17M in a Series A funding round. The investment was led by the European Circular Bioeconomy Fund (ECBF), Demeter IM, and Unigrains, with additional financing from a consortium of banks (BPI, BNP Paribas, CIC, Crédit Agricole, Société Générale) and backing from BPI’s support programs.
The company intends to allocate the funds for the development of advanced lighting strategies in partnership with its clients and innovation collaborators. Moreover, RED Horticulture plans to invest in research at its Photobiology & Agronomic Research Centre (PARC) in Nantes, France.
The capital will also be used to broaden the adoption of RED’s solutions across various growth segments in the market.
Louis Golaz, CEO of RED Horticulture, commented, “Since its inception, RED Horticulture has shown remarkable growth in a highly competitive sector. Our commitment to the distinct benefits of our dynamic lighting solution has been unwavering. This solution stands out for its ease of use, exceptional flexibility, and superior scalability, distinguishing us in the market.”
RED Horticulture: Delivering Cutting-Edge LED Lighting Innovations
Established in 2018 by Yassine El Qomri and Louis Golaz, RED Horticulture offers a leading-edge intelligent LED solution for greenhouse operations and research centers, promoting more sustainable agricultural practices through innovative lighting technologies.
Their dynamic spectrum LED lights, designed to precisely stimulate plant photoreceptors in greenhouses, are managed through MyRED, their AI-driven proprietary platform.
RED Horticulture’s lighting approach enables growers to lower energy usage, boost yields, accelerate crop growth, and enhance crop quality. This method of providing optimal lighting at the right times results in increased yields, improved crop quality, and energy conservation.
Case studies demonstrate significant benefits: strawberry growers have seen a 35% increase in yield and a 20% reduction in the time from sowing to harvest. Similarly, young plant breeders have cut energy consumption by up to 60% and achieved superior crop morphology with RED Horticulture’s lighting strategy.
About the Investor
The European Circular Bioeconomy Fund (ECBF) focuses on investing in deep tech companies that facilitate the shift towards a sustainable, bio-based circular economy.
Stéphane Roussel, a Partner at ECBF, commented, “Controlled environment agriculture, including greenhouses, is set to rapidly expand due to its numerous benefits. These include the ability to produce healthy and nutritious crops near consumption points while minimizing soil and water use and reducing chemical reliance.
We were captivated by the ambition and foresight of RED Horticulture’s founders in developing a solution that optimizes light as a key greenhouse resource. RED, with its profound agronomic knowledge, empowers growers to further automate their processes and tailor their operations to prioritize key aspects such as yield, energy efficiency, or product quality.”