Square Mile Farms
Bringing vertical farming to urban spaces to boost wellbeing and sustainability
- Farm installation volumes increased by 700% in 2021 vs 2020
- Contracted service revenue increased 28% month on month*
- Established network of 60+ farm units across 27 sites in London
- Clients include Vodafone, Knight Frank, and Mindful Chef
Our offering has struck a chord across a wide range of industries, and our volume of farm installations has accelerated by 700% in 2021 alone. This growth has been almost exclusively organic, including referrals and inbound enquiries – and has required very little marketing spend.
Our pipeline is strong for Q1 2022, with businesses looking for unique ways to encourage employees back to the office. We have 7 new sites pending installation and have submitted another 6 live proposals. We have identified an additional 20 potential opportunities throughout the year.
We have two proven sources of revenue – an initial installation charge followed by a compounding monthly services fee – both of which are accelerating with our growth.
*Based on unaudited management accounts.
Substantial accomplishments to date
Large blue-chip clients include Vodafone, Mindful Chef, Savills-IM, Knight Frank and Mace
Made key appointments to the executive team and grew employees from 4 to 10 in 2021
Increased the stickiness of current clients by expanding installations within their offices and additional buildings
Evolved our business from single unit sales to multi-site, multi-unit installations – delivering new revenue opportunities
6,500 edible plants growing across our facilities, including our nursery operation and our farm installations
Farm installation - Either through a one-off purchase, or monthly rental charge.
Monthly management charge – An ongoing service fee secured with evergreen 12-36 month contracts, for the management of the farms and engaging the community.
We also intend to launch ‘enterprise’ deals which facilitate multi-farm, multi-site installations for large corporate clients. This will increase operational efficiency, drive additional revenue from established contracts and increase barriers to entry for competitors.
Use of proceeds
The funds raised from this round will allow us to substantially increase our sales and marketing outreach, evolve our product offering and improve our data capture and communication of the impact our farms are having on sustainability and wellbeing. We believe this will allow us to drive growth and enable us to protect our market share.
40 % will go to expanding our sales team and sales engagement capacity, as well as scaling up our marketing initiatives to boost awareness of Square Mile Farms and generate new opportunities.
50% will go to increasing the capacity of our nursery operations to further enhance the service delivery capacity for a larger customer base.
10% will go to further developing customer engagement tools and integrating the data we capture through our farm operations to deliver enhanced reporting and sustainability metrics for our clients.
The company currently has a Bounce Back loan with a 2.5% interest rate, to be repaid over monthly instalments of £148.05 until May 2026.
Funds raised in this campaign will not be used to repay this loan.
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