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Stock impact report

Exclusive: Oishii, vertical farming startup, closes its Series B at $150 million [Fortune]

AeroVironment, Inc. (AVAV) 
Last aerovironment, inc. earnings: 3/3 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.avinc.com/investor-relations
Company Research Source: Fortune
The cofounder and CEO of vertical farming startup Oishii, Koga wanted to start with strawberries. It's a crop that's famously hard to grow as compared to, say, leafy greens like kale and arugula, which most vertical farming startups start with. Koga, who grew up in Japan, was unimpressed with American produce when he moved to the U.S.—and starting with one of the most beloved fruits, he thought, could set up Oishii for success. “My conclusion was: ‘Let's start with a potentially harder crop, but a crop that you can create a difference in the quality and where you can demonstrate that quality difference,'” Koga told Fortune . “Therefore, you can command a much higher price point to the customer, so we can generate profit from the get-go.” And it's a higher price point, to be sure: Oishii's strawberries (called the Koyo Berry) sell for $10 per tray, and they're available in places like Whole Foods, FreshDirect, and Harris Teeter. (For comparison, I bought a box of non-organic Drisco Show less Read more
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