Farming startup raises $200M from major investors
iStock/Thinkstock(SAN FRANCISCO) — A California startup that turns farming on its head has raised $200 million dollars from big-name investors such as Amazon chief Jeff Bezos.
Plenty, a vertical farming startup based in San Francisco, has also garnered funding from Japanese media giant Soft Bank and Alphabet’s Eric Schmidt, according to the BBC.
Founded in 2013, the company has an indoor growing system that utilizes less water and space than conventional farms. It plans on offering its self-grown vegetables and herbs for sale this fall.
The company, which employs 100 people in San Francisco and Wyoming, has already signed agreements with online and brick-and-mortar distributors.
Copyright © 2017, ABC Radio. All rights reserved.
Leave a Reply
You must be logged in to post a comment.