Keystone Law has advised the London-based soil-free farming group Vertical Future on its £21 million Series A fundraising, valuing the company at more than £100 million.

Believed to be the largest Series A round in Europe in the controlled environment agriculture space, the financing from a variety of investments funds and family offices will assist with the deployment of Vertical Future’s farms, integrate specific manufacturing capabilities, and team development.

Founded in 2016 by Jamie Burrows and Marie-Alexandrine Burrows, the company both builds vertical farming hardware and software technologies and offers operational support and consulting services. The company also has an active R&D programme in conjunction with the University of Cambridge, Loughborough University, and NIAB.

The Keystone Law team, led by corporate partner Jeremy Davis, included trainee solicitor Sophie Welbourn and paralegal Japneet Bhambra.

Jamie Burrows, Founder & CEO of Vertical Future, said:

“It has been a pleasure working with the Keystone Law team, who have supported us across a number of years and transaction types, including this recent raise. They are a highly professional team with in-house capabilities that span many specialities.”

Jeremy Davis added:

“Vertical Future has become an important client of the firm, working with lawyers across a variety of practice areas. It has been great to work with Jamie and his team on this fundraising to help take their business to the next level. There are exciting times ahead for this innovative company.”