BrightFarms, a NYC-based urban agriculture company, raised $4.9m in Series B funding.
Backers included NGEN Partners, Emil Capital Partners, BrightFarms founder Ted Caplow and other investors.
The company intends to use the funds to continue building commercial-scale greenhouses and improve the customer service.
Led by CEO Paul Lightfoot, BrightFarms aims to create local green jobs and bring healthy, fresh produce to neighborhoods by financing, building, and operating local greenhouse farms and signing long-term purchase agreements with supermarkets that feature fixed prices and minimum volume commitments.
13/12/2011: BrightFarms Completes $4.3M Series A Equity Financing