Greenhouse Canada

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Ag LED company secures $2 million capital


May 7, 2018
By Greenhouse Canada

Thrive Agritech recently secured $2 million in capital to help further develop and manufacture its LED technology for horticultural operations in controlled environments, including greenhouse and indoor farming facilities.

According to the release, the New York-based company had a very successful year, with “a rapidly expanding customer base with lighting installations in greenhouses, vertical farms and cannabis production facilities across North America.”

Focusing on sustainability, Thrive’s lighting products are made for energy efficiency, reducing the carbon footprint of older lighting technologies.

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Currently, their Canadian partners include Puslinch-based cannabis company CannTx, Eclipse Farms in British Columbia and horticultural equipment supplier VRE Systems.

“Thrive has established a successful track record of commercializing best-in-class LED lighting products – having launched a new product every year since the company’s inception,” notes Rose Capital, a New York investor in the global cannabis sector who led the investment round. “We look forward to partnering with Thrive to continue to break down traditional industry barriers and commercialize some of the most innovative products in the global horticultural market.”