PodPonics Closes Seed Funding Round, Secures $725,000

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Source: Marketwire

Innovative Approach to Farming Gaining Traction in the Atlanta Market and Beyond

ATLANTA, GA -- (Marketwire) -- 07/27/11 -- Atlanta-based PodPonics, an innovative technology-driven urban agriculture start-up, recently completed a seed funding round, raising a total of $725,000 from a group led by international private investors.

PodPonics repurposes recycled shipping containers as Grow Pods, combining advanced technology to create a controlled growing environment regulated by a proprietary system that controls temperature, humidity, light, water and nutrients to create an ideal growth environment optimized for each crop and its growth cycle stage. This allows PodPonics to grow fresh, local, pesticide-free produce pretty much anywhere, including urban centers, regardless of season, climate, rainfall or other outside factors.

The funding will be used to help the company continue to expand current operations and also lay the foundation for entry to new markets and geographies, leading to greater access to local produce, while also creating jobs and protecting our environment.

'Our long-term goal is to transform urban markets nationally and internationally,' said Matt Liotta, PodPonic's founder and CEO, who also indicated he was pleased by the investor interest in PodPonics. 'It's noteworthy that we were able to raise this amount of capital with relative ease working with sophisticated investors, given the early stage of our venture and the overall challenging economy. It proves we are on to something big, a fact we never doubted.'

Established in 2010, PodPonics currently supplies more than 150 pounds of locally-grown, pesticide-free lettuce, arugula, watercress and other micro-greens per week to leading Atlanta restaurants and retailers. Recently signed contracts with some of the country's leading produce distributors will increase market demand significantly, necessitating additional pods and a larger site, both of which are underway. Several agreements to facilitate entry into other markets along the East Coast will provide further impetus for growth and the funds raised will help finance expansion into these regions.

About PodPonics
PodPonics is the future of farming. The Atlanta-based company answers the growing consumer demand for local food by producing it in urban centers, using an approach that does not require arable land. PodPonics utilizes a proprietary system that integrates advanced hydroponics, proprietary lighting, irrigation and nutrient technology with process control. Their growing system reduces cost, improves product quality and creates local jobs while answering the strong and growing demand for locally produced, natural foods.

The PodPonics approach to next-generation urban agriculture provides a number advantages over traditional farming, including year-round crop production, much higher crop density and predictable results and the elimination of crop failures caused by weather or pests. PodPonics meets these goals using far less water and foreign oil than traditional agriculture, without employing harmful pesticides. The benefits of the approach include providing a healthy, natural product grown in a controlled environment at or near the point of consumption.

For more information on PodPonics, please visit www.podponics.com.

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The Reynolds Group
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