Recent York Metropolis-primarily 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.
Constancy Management & Learn Company led the stout round, with participation from recent merchants GV (beforehand Google Ventures), Total Catalyst, GGV Capital, Temasek and Groupe Artémis. Amplo and Gaingels participated, as neatly, along with some celeb particular person merchants, including Lewis Hamilton, Chris Paul, Natalie Portman, José Andrés and Justin Timberlake.
The funding comes as Bowery has experienced some impressive accurate-world snort, touting a 750% amplify in availability since January of closing year. If one thing, the company appears to be to hang thrived sometime of the pandemic. Its vertically farmed keep is now on hand in 850 grocery stores, including big-name chains esteem Albertsons (incl. Safeway and Acme), Huge Meals, Walmart and Entire Foods.
Amazon Recent has additionally supplied a expansive e-commerce footprint — a huge must sometime of the pandemic-fueled shutdowns of the past year.
“This infusion of novel capital from Constancy, various novel merchants, and the additional enhance of our long-term investor companions is acknowledgement of the principal want for novel solutions to our recent agricultural plot, and the massive financial alternative that comes with supporting our mission,” CEO Irving Fain talked about in a originate. “This funding no longer greatest fuels our continued expansion however the ongoing vogue of our proprietary technology, which sits on the core of our switch and our ability to immediate and successfully scale in direction of an an increasing selection of principal alternative in front of us.”
The company says the gigantic windfall will scamper toward rising its indoor farms to additional locations in the US, as neatly as investing in headcount and R&D. Integrated in the pale is a brand novel self-discipline located in an industrial house in Bethlehem, Pennsylvania, which Bowery says will doubtless be its greatest up to now.