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| 3 AgTech FoodTech businesses' use of equipment financing to expand |
According to the 2022 AgFunder AgriFoodTech Investment Report, venture capital investors poured $51.7 billion into agrifood technology in 2021, a stunning 85% increase over 2020.
The issue, though, for many inventive entrepreneurs with strong business models is sometimes receiving that first round of money. The problem is that there needs to be more money to support growth. These businesses spend valuable resources on the construction of facilities and the purchase of equipment rather than investing in R&D, the advancement of science or technology, or the hiring of personnel. In other words, companies are spending money on deteriorating assets rather than expanding and becoming profitable more quickly.
These new businesses can establish or extend their facilities with the help of CSC Leasing's expertise in financing equipment and technology, preserving their resources for more significant investments.
Three agtech and food tech entrepreneurs are using complementary funding from CSC to strengthen and expand their companies.
After graduating from a Silicon Valley accelerator, an automated farm startup was prepared to start its pilot program. This novel kind of vertical hydroponic gardening would aid in the fight against global warming and food scarcity.
The startup sought to expand its operations but held off on using stock until it had established itself in the market. To increase operations, the business needed more money for equipment.
The right partner was found in CSC, which offered non-dilutive capital as an equipment lease. After four months of signing the lease, the firm was able to establish its first location and bring on board clients and sources of income.
A mission-critical "as-a-service" platform was scaled.
One agricultural firm, which has created containerized technology, is on a quest to improve soil health on a big scale to solve challenges with food security and climate disruption. The equipment is manufactured at a tremendous upfront expense and installed at the growers' locations. The business needed to scale and deploy these specialized assets, which would have prevented it from quickly expanding its soil-as-a-service-based revenue platform across a large area.For the specialist proprietary assets, CSC offered the corporation a sale-leaseback. The business produces each purchase internally, and CSC covers the costs. Farmers pay a monthly subscription fee to use the systems, which are installed on farms nationwide.
Expanded its retail presence
A manufacturer of vegan barbecue needed to construct a new production facility to increase its production capacity. It would necessitate specialized equipment, such as refrigerators and smokers, which require high capital expenditures. The startup had recently secured some venture finance but still needed more money.CSC rented the majority of the tools needed to construct the facility. In addition, CSC served as the company's full-service procurement agent and oversaw the acquisition of specialized equipment from a wide range of suppliers, freeing up the organization to concentrate on other issues.
The business unveiled a 10,000-square-foot facility. Since then, it has significantly expanded its retail footprint and is featured in many significant restaurant chains.
Learn more about CSC's non-dilutive complementary funding.
At CSC Leasing, we offer a flexible, cost-effective financing alternative to pay for expensive constructions and assets, supplement current funding, or act as a temporary source of finance while waiting for your next round of funding. Contact our regional director, Jordan Stowe, immediately to discuss exceptional prospects for your expanding firm.