Skip to main content

Indoor farming company Bowery raises $300M

New York City-based vertical farming startup Bowery Farming this week has announced a $300 million Series C. The round, which brings its total funding north of $472 million, values the company at $2.3 billion.

Fidelity Management & Research Company led the beefy round, with participation from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek and Groupe Artémis. Amplo and Gaingels participated, as well, along with some celebrity individual investors, including Lewis Hamilton, Chris Paul, Natalie Portman, José Andrés and Justin Timberlake.

Bowery, an indoor farming startup, raises $90 million more, including to counter a SoftBank-funded rival

The funding comes as Bowery has experienced some impressive real-world growth, touting a 750% increase in availability since January of last year. If anything, the company appears to have thrived during the pandemic. Its vertically farmed produce is now available in 850 grocery stores, including big-name chains like Albertsons (incl. Safeway and Acme), Giant Food, Walmart and Whole Foods.

Image Credits: Bowery Farming

Amazon Fresh has also provided a sizable e-commerce footprint — a big must during the pandemic-fueled shutdowns of the past year.

“This infusion of new capital from Fidelity, other new investors, and the additional support of our long-term investor partners is acknowledgement of the critical need for new solutions to our current agricultural system, and the enormous economic opportunity that comes with supporting our mission,” CEO Irving Fain said in a release. “This funding not only fuels our continued expansion but the ongoing development of our proprietary technology, which sits at the core of our business and our ability to rapidly and efficiently scale towards an increasingly important opportunity in front of us.”

Image Credits: Bowery Farming

The company says the massive windfall will go toward expanding its indoor farms to additional locations in the United States, as well as investing in headcount and R&D. Included in the former is a new site located in an industrial area in Bethlehem, Pennsylvania, which Bowery says will be its largest to date.

Bowery Farming adds executives as it expands to sell produce in 650 stores

Farmland could be the next big asset class modernized by marketplace startups

 



from TechCrunch https://ift.tt/2SrFlde
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

The Silent Revolution of On-Device AI: Why the Cloud Is No Longer King

Introduction For years, artificial intelligence has meant one thing: the cloud. Whether you’re asking ChatGPT a question, editing a photo with AI tools, or getting recommendations on Netflix — those decisions happen on distant servers, not your device. But that’s changing. Thanks to major advances in silicon, model compression, and memory architecture, AI is quietly migrating from giant data centres to the palm of your hand. Your phone, your laptop, your smartwatch — all are becoming AI engines in their own right. It’s a shift that redefines not just how AI works, but who controls it, how private it is, and what it can do for you. This article explores the rise of on-device AI — how it works, why it matters, and why the cloud’s days as the centre of the AI universe might be numbered. What Is On-Device AI? On-device AI refers to machine learning models that run locally on your smartphone, tablet, laptop, or edge device — without needing constant access to the cloud. In practi...
1 comment
Read more

Apple’s AI Push: Everything We Know About Apple Intelligence So Far

Apple’s WWDC 2025 confirmed what many suspected: Apple is finally making a serious leap into artificial intelligence. Dubbed “Apple Intelligence,” the suite of AI-powered tools, enhancements, and integrations marks the company’s biggest software evolution in a decade. But unlike competitors racing to plug AI into everything, Apple is taking a slower, more deliberate approach — one rooted in privacy, on-device processing, and ecosystem synergy. If you’re wondering what Apple Intelligence actually is, how it works, and what it means for your iPhone, iPad, or Mac, you’re in the right place. This article breaks it all down.   What Is Apple Intelligence? Let’s get the terminology clear first. Apple Intelligence isn’t a product — it’s a platform. It’s not just a chatbot. It’s a system-wide integration of generative AI, machine learning, and personal context awareness, embedded across Apple’s OS platforms. Think of it as a foundational AI layer stitched into iOS 18, iPadOS 18, and m...
Post a Comment
Read more

Billionaire clothing dynasty heiress launches Everybody & Everyone to make fashion sustainable

Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone , to prove that the fashion industry can be both environmentally sustainable and profitable. There’s no argument about the negative impacts of the fashion industry on the environment. The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton, and toxic chemicals to dye, treat, and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes). The lit...
Post a Comment
Read more