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A pioneer of vertical farming that’s drawn backing from billionaires, including Jeff Bezos, is in talks for a new funding round that will virtually wipe out existing stockholders, according to a person familiar with the matter https://t.co/tRni0F38M9 Note to PE: Farming is tough
From electrically conductive “fire bricks” to water-positive carbon capture, here are new technologies aiming to transform heavy industry. https://t.co/32fBLA80pj
Plenty, a vertical farming co has raised >$1B, including $400M from Softbank Now raising $125M at a $15M pre & will shift from lettuce to strawberries Indoor farming companies AppHarvest (~$800M + JD Vance!), Bowery ($750M), Kalera ($187M) have lit VC $ on fire. https://t.co/CkVJEUUQIf
Plenty, a vertical farming company that has raised over $400 million from investors including SoftBank, is currently negotiating a new funding round of $125 million. This new round is expected to significantly dilute existing shareholders, as it is being conducted at a pre-money valuation of $15 million. Plenty has previously raised more than $1 billion in total funding. In addition to this, the company plans to shift its focus from growing lettuce to strawberries. The vertical farming sector has seen substantial investment, with other companies like AppHarvest, Bowery, and Kalera also attracting significant venture capital.