Bowery Farming, a NYC-based vertical farming company, secured $300m in Series C funding.
The round was led by Fidelity Management & Research Company LLC, with follow-on investment from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek, Groupe Artémis (Pinault-owned), new participation from Amplo and Gaingels, a fund representing the LGBTQ community and allies, as well as individual investors Lewis Hamilton, Chris Paul, Natalie Portman, José Andrés and Justin Timberlake.
The company, which has raised $472m to date, intends to use the funds to continue expansion of its network of smart indoor farms across the United States, to further accelerate its technological leadership, support ongoing research and product innovation efforts.
Founded in 2015 by Irving Fain, CEO, Bowery Farming builds smart indoor farms near cities, growing pesticide-free Protected Produce in precisely controlled environments, 365 days a year. At the core of each farm is the proprietary BoweryOS, which integrates software, hardware, sensors, AI, computer vision systems, machine learning models and robotics to orchestrate and automate the entirety of its operations.
Based in New York City, the company serves major e-commerce platforms and more than 850 grocery stores in the Northeast and Mid-Atlantic regions, including Albertsons Companies (Safeway and Acme), Amazon Fresh, Giant Food, Walmart, Weis, Whole Foods Market, and specialty grocers.
FinSMEs
25/05/2021