Franco-Dutch RED Horticulture, a supplier of LED lighting solutions, in association with the European Circular Bioeconomy Fund (ECBF), Demeter IM and Unigrains, has raised €20 million in a new funding round.
Part of the financing comes from a banking pool (BPI, BNP Paribas, CIC, Crédit Agricole, Société Générale) and support programs from BPI. The company has developed dynamic lighting solutions for greenhouse operations based in the Netherlands and France.
Applicable to many high-tech greenhouse operations, RED Horticulture’s solution is based on dynamic spectrum LED lights that precisely activate the photoreceptors of plants in greenhouses and are controlled via the AI-powered proprietary platform MyRED.
In case studies, strawberry growers have increased yields by 35 per cent and reduced the time from sowing to harvesting their crop by 20 per cent. At the same time, young plant breeders have reduced energy consumption by up to 60 per cent and achieved better crop morphology using RED Horticulture’s lighting strategy.