LettUs Grow named as a finalist for Best Investment in Disruptive Tech for 2019 UKBAA Investment Awards
LettUs Grow named as a finalist for Best Investment in Disruptive Tech for UKBAA Investment Awards
Bristol, United Kingdom – LettUs Grow, creator of advanced aeroponic technology and farm management software for indoor farms, announces that it has been recognised as a finalist in the Best Investment in Disruptive Tech category at this year’s UKBAA Investment Awards, with the winners to be announced at a black-tie gala on 2nd July.
The annual UKBAA Angel Investment Awards celebrates successes across the investment space, recognising the UK’s standout angels, crowd funders, early-stage VCs and the trailblazing early-stage ventures they invest and support. The awards shine a light on new and disruptive businesses entering the market from an array of different sectors and reflecting key themes within the industry, highlighting some of the most exciting early-stage ventures to watch.
LettUs Grow was founded in 2015 to tackle some of the defining issues of the 21st century: greenhouse gas emissions, waste, ecosystem collapse and food security. The UN estimates that the global population will rise by 40% and reach nearly 10 billion by 2050 and that 68% of these people will live in cities. Existing methods of agriculture will not be enough to feed this enormous urban population with 25% less farmland, depleted soils, reduced insect biomass, and an increasingly unstable climate. Alongside this, most ‘fresh’ produce is imported out of season, often travelling hundreds of miles to reach consumers and resulting in huge amounts of waste.
To help solve this problem, LettUs Grow has designed a patent-pending aeroponic system that has shown growth rate increases of over 70% compared to hydroponics. Instead of using soil or a nutrient solution, plant roots are suspended in a nutrient-dense mist. This results in faster growth rates as well as consistent and predictable yields, and a 95% reduction in water usage versus open-field farming. LettUs Grow doesn’t use pesticides or herbicides and massively reduces the environmental impact of delivering food from farm to fork, by siting farms in rural and urban locations.
The investment came from ClearlySo’s extensive network of investors and was announced in January 2019.
Charlie Guy, Managing Director of LettUs Grow said, “The indoor farming space is very exciting right now, driven by a growing awareness of the impending climate emergency and urgent need for more sustainable solutions in agriculture. It’s brilliant to be recognised for the tireless work being done by the team at LettUs Grow to address these issues and help feed a growing population.
“ClearlySo's support and investment has enabled us to accelerate our innovative products to market, broaden our reach and expand our positive impact.”
Matias Wibowo, investment manager at ClearlySo: “We are excited to see LettUs Grow named as an awards finalist and getting the recognition they deserve for helping to build a sustainable future for agriculture.”
Congratulations and the best of luck to everyone nominated! The winners will be announced on the 2nd July. You can find out more about the awards and the full list of nominees here.