A New York City-based startup is developing verdant plate of mixed greens indoors — and it just raised a lot of cabbage from financial backers including Natalie Portman and Justin Timberlake.
Bowery Farming said Tuesday it had brought $300 million up in a funding round that qualities its business at $2.3 billion. Close by customary funding sponsor, other outstanding financial backers incorporate celebrity gourmet specialist José Andrés, basketball player Chris Paul of the Phoenix Suns and Formula One driver Lewis Hamilton.
The Manhattan-based company changes over modern structures like distribution centers into “vertical homesteads” tended via computerized hardware, a method it says permits every one of its yields to be developed all year paying little heed to climate conditions, outside pests and contamination.
Named after seventeenth century Dutch ranchers who developed harvests in lower Manhattan, Bowery Farming at present sells 13 kinds of greens at 850 stores including Whole Foods, Safeway and Walmart. The firm works three ranches in New Jersey and Maryland, loading stores in the New York City and Washington D.C. metropolitan regions, with plans to extend.
The series C funding round was driven by Fidelity Management and Research and included follow-on speculations from Google owner Alphabet’s investment arm, General Catalyst, GGV Capital and the Singaporean sovereign wealth fund Temasek.
Established in 2014, the company has now raised an aggregate of $472 million.