Bainbridge Island-based agriculture technology company RipeLocker has raised $10 million.

With the funding, announced Monday, RipeLocker co-founder and CEO George Lobisser said the company plans to increase its inventory and continue efficacy trials around the world. He added that the company, which makes pallet-sized containers to extend the shelf life of perishables, is currently testing its technology on salmon in Alaska.

“In theory, the technology should work on protein,” Lobisser said

The company has 22 employees, up from seven when the company raised $5 million in April 2021. All but one of RipeLocker’s employees are based in the Seattle area, Lobisser said.

Though he didn’t offer details about the company’s growth plans, he said RipeLocker is experiencing year-over-year growth.

RipeLocker in 2021 moved into a nearly 5,000-square-foot space on Bainbridge Island at a converted lumberyard near Lynwood Center, a small commercial area 3.5 miles from the ferry terminal. The office is at the site of what was Bainbridge Island Lumber, constructed in 1925 and designated a historic property in 2018. Lobisser said the company doesn’t plan to add space, as some of its upcoming hiring will be sales roles in specific markets.

RipeLocker was founded in 2016. The company’s storage containers are aimed at produce, flowers and nuts. The containers maintain low pressure and oxygen, along with high humidity. They do not replace refrigeration. According to RipeLocker, these containers can extend post-harvest life by weeks or even months.

RipeLocker has now raised $30 million in total, including a $7.5 million round in August 2022. In addition to the U.S., the company is working in Peru, Chile, Mexico and Australia, among other countries.

“We continue to prove that the tech works,” Lobisser said. “We’re basically converting waste into sellable inventory. Obviously, it’s worth a lot of money.

By Rick Morgan – Inno Senior Reporter, Puget Sound Business Journal