Wednesday, October 14, 2020

Plenty Unlimited Raises $140M, Plans To Set Up Farm In Compton

Plenty, a Bay Area startup developing vertical farming technology, said this week that it has raised $140M in a new funding round, and will build a new farm in Compton. The startup--backed by Softbank Vision Fund and strawberry farming giant Driscolls--has raised more than $500M in total for its vertical farming efforts. Plenty is developing vertical, indoor farming technology, and currently growing greens such as lettuce, arugula, and kale for grocery stores. The company says its vertical farms use 5% of the water and less than 1% of the land compared to outdoor farms.