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# Vertical Future
- URL: https://entrepreneurplus.co.uk/graveyard/vertical-future/
- Published: 2026-10-21T11:11:35.000Z
- Updated: 2026-10-21T11:30:05.000Z
- Description: Vertical-farming hardware and software; administration Aug 2025 after a £60M raise fell short, CVL Jan 2026
- Author: Editorial Desk
- Tags: #ep-grave

✝ Startup · Administration · 5 August 2025 

Vertical-farming hardware and software; administration Aug 2025 after a £60M raise fell short, CVL Jan 2026

Companies House

[10379325](https://find-and-update.company-information.service.gov.uk/company/10379325?ref=entrepreneurplus.co.uk) · Liquidation

How it ended

Administration

Ended

5 August 2025

Founded

2016

Sector

Food & Agritech

Based in

London

Funding raised

£36M

Backed by

Nickleby Capital, SFC Capital, Pula Investments, Gregory Nasmyth, Dyfan Investment, Mahmud Kamani, Nick Wheeler, Jonathan Quin

Last known website

[verticalfuture.com](https://www.verticalfuture.com/?ref=entrepreneurplus.co.uk)

Last checked

21 October 2026

## What happened

Vertical Future designed and built controlled-environment farming systems, selling proprietary growing hardware and farm-management software to operators and research partners, and ran its own trial farms. Founded in London in 2016 by Jamie Burrows, it closed a £21M Series A in January 2022 that was then the largest European controlled-environment agriculture round. In 2023 the company sought a further £60M but, according to the administrators' filings, raised only £9.9M, later taking a £3.2M loan from Saudi investors on which it looked likely to default. Turnover fell from £6.7M to £692,000 and losses passed £10M in 2024\. A sale process in July 2025 found no buyer and KBL Advisory were appointed administrators on 5 August 2025, with the loss of several dozen jobs. The administrators attributed the collapse to reduced funding, which they linked to a loss of confidence in the sector, and to higher electricity costs. The company moved from administration into creditors' voluntary liquidation in January 2026.

## Why

- Could not raise the next round
- Macro / market conditions

## What happened to the assets, customers and team

Richard Cole and Steve Kenny of KBL Advisory were appointed administrators on 5 August 2025; the company owed creditors £7.9M. Its assets and intellectual property were sold for £670,000 to companies ultimately owned by Tahir Mohsan. The company moved into creditors' voluntary liquidation in January 2026 (AM22 filed 15 January 2026, liquidator appointed 23 January 2026).

## In their words

> a lack of confidence in the sector as a result of failures within the global industry
> 
> Joint administrators (KBL Advisory), administrators' proposals as reported by City AM · [source](https://www.cityam.com/mahmud-kamani-backed-vertical-farm-collapses-after-failing-to-find-a-buyer/?ref=entrepreneurplus.co.uk)

## Lessons

A capital-intensive hardware business planned around a £60M raise that landed at £9.9M had no fallback once sector sentiment turned after the AeroFarms, Infarm and Jones Food Company failures. Turnover collapsing by roughly 90 per cent in a year while losses exceeded £10M left no runway to renegotiate the Saudi loan, and a July 2025 sale process found no solvent buyer.

## Backed by

- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/nickleby-capital-logo.png)Nickleby Capital](https://entrepreneurplus.co.uk/investors/nickleby-capital/)
- [![](https://storage.ghost.io/c/05/a4/05a4a052-18ab-4836-8924-ec8b322c371c/content/images/2026/10/sfc-capital-logo.png)SFC Capital](https://entrepreneurplus.co.uk/investors/sfc-capital/)

## Sources

1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/10379325?ref=entrepreneurplus.co.uk)
2. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/10379325/filing-history?ref=entrepreneurplus.co.uk)
3. [thegazette.co.uk](https://www.thegazette.co.uk/notice/4943976?ref=entrepreneurplus.co.uk)
4. [cityam.com](https://www.cityam.com/mahmud-kamani-backed-vertical-farm-collapses-after-failing-to-find-a-buyer/?ref=entrepreneurplus.co.uk)
5. [hortidaily.com](https://hortidaily.com/article/9756375/vertical-future-formally-enters-administration?ref=entrepreneurplus.co.uk)
6. [tech.eu](https://tech.eu/2022/01/18/uks-vertical-future-harvests-21-million-in-series-a-round/?ref=entrepreneurplus.co.uk)

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