US (CA): Plenty vertical farm raises $200 million
Plenty is using proven plant science and patented technologies to build a new kind of indoor farm that uses LED lighting, micro-sensor technology, and big data processing to deliver higher-quality produce for pricing as good or better than what consumers pay today. This investment will support building out Plenty’s global, hyper-yield farm network.
“Fruits and vegetables grown conventionally spend days, weeks, and thousands of miles on freeways and in storage, keeping us all from what we crave and deserve — food as irresistible and nutritious as what we used to eat out of our grandparents’ gardens," said Matt Barnard, CEO and co-founder of Plenty. “The world is out of land in the places it’s most economical to grow these crops. After a decade of development driven by one of our founders, our technology is uniquely capable of growing hyper-organic food with no pesticides nor GMOs while cutting water consumption by 99 percent, making locally-grown produce possible anywhere. We’re now ready to build out our farm network and serve communities around the globe.”
"By combining technology with optimal agriculture methods, Plenty is working to make ultra-fresh, nutrient-rich food accessible to everyone in an always-local way that minimizes wastage from transport," said Masayoshi Son, Chairman & CEO of SoftBank Group Corp. "We believe that Plenty's team will remake the current food system to improve people's quality of life."
The Series B funding round was led by the SoftBank Vision Fund, with participation from affiliates of Louis M. Bacon, the founder of Moore Capital Management, LP, and existing investors including Eric Schmidt’s Innovation Endeavors, Bezos Expeditions, DCM, Data Collective and Finistere.
For more information:
www.plenty.ag