Plenty bags $500m to grow fruits and veggies indoors
Plenty Unlimited has raised $140 million in new funding to build more vertical farms around the U.S.
The new funding, which brings the company’s total cash haul to an abundant $500 million, was led by existing investor SoftBank Vision Fund and included the berry farming giant Driscoll’s. It’s a move that will give Driscoll’s exposure to Plenty’s technology for growing and harvesting fruits and vegetables indoors.
The funding comes as Plenty has inked agreements with both its new berry-interested investor and the Albertsons grocery chain. The company also announced plans to build a new farm in Compton, California.
The financing provides plenty of cash for a company that’s seeing a cornucopia of competition in the tech-enabled cultivated crop market raising a plethora of private and public capital.
