Urban Agriculture Startup Gotham Greens Closes $29 Million Round of Funding

Urban Agriculture Startup Gotham Greens Closes $29 Million Round of Funding

Gotham Greens, a technologically advanced urban agriculture startup, has closed a $29 million Series C financing round, bringing its total equity funding to $45 million, according to Fortune.

The Brooklyn-based company says the same investors that have backed them from the beginning continue to invest. “They’re sticking with the company. They like the profitability and the returns,” says co-founder and CEO Viraj Puri.

But a new investor, global investment company Creadev, joined the club with a “significant” investment. Creadev is funded by the Mulliez family– one of the wealthiest families in France.

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America's First Vegan-Certified Vertical Farm Leaps Into the Future of Agriculture

Video Produced by Vanessa C. Rodriguez

In this episode of “Sustain,” we will learn how a former venture capitalist helped build Philadelphia’s first vertical farm, Metropolis Farms.

“I became obsessed with the idea that we could feed ourselves within cities. It started out as a hobby, became an obsession…” says Jack Griffin, president of Metropolis Farms, the first vegan-certified farm of America.

Metropolis Farms prides itself in growing over two million pounds of nutritious produce — without the need for harsh chemicals or animal products. On top of that, the farm uses far less space per square feet at a cost that is less than $2 billion to build.

The company has its own proprietary technology, which helps grow food more effectively and at a higher quality than conventional and organic farms can achieve. Through indoor vertical farming, the produce is not vulnerable to the weather, bugs, heavy metals, blight, and bacterial contaminations that are present in today’s outdoor agriculture.

At a recent TEDx talk event in Wilmington, N.C., Griffin explained “...the technology is accessible to anyone. It’s easy to use, cheap to build, and it’s profitable… For things to be sustainable, it has to be profitable!”

Metropolis Farms has been working closely with the city government of Philadelphia to help revitalize its economy through the creation of jobs and to achieve the shared vision of ending hunger.

“Let’s be honest! Some people don’t want hunger to end… They don’t, because they have a vested interest in the current system… The best way to win that struggle is to make sure that everyone has the technology,” Griffin added.

Metropolis Farms is currently building the world’s first solar-powered vertical farm which will be 100 percent energy-efficient and a step towards reducing its carbon footprint. A rainwater recapturing system is also built in, something many around the world have been looking into, but it  hadn’t been done. This farm is expected to be already growing crops by late fall 2016.

If everything goes according to plan and the initiative continues to get the support it has been fortunate to receive, Philadelphia is set to become the first vertical farm city in the world.

The Future of Wearable Tech and How It Could Help Restaurants

Photo Credit: Southeast Farm Press

Photo Credit: Southeast Farm Press

Just like smartphones and tablets, wearable tech, like Google Glass, is going to revolutionize the way we see and interact with the world around us.

Think about how restaurants and the food industry in particular can use this technology in ways that will streamline their operations. A restaurant that uses digital menus, for example, might suddenly run out of the soup de jour. Instead of creating a frenzy of notifying every staff member of the 86'd menu item, imagine if chefs could simply use a Google Glass app that allows them to update the menu in real-time. Read More

The Cultivation of Mobile Agriculture

Haven't heard of mAgriculture? Until recently, neither had much of North America, says Float Mobile Learning. mAgriculture is the application of mobile computing to the business of farming, and the same report says that since 2010, North American farmers have jumped on the smartphone bandwagon at a "higher rate than the general public." The infographic below is comprised of Float Mobile's data and shows how farmers use mobile tech for business, data, weather and more. Check out the full article by Food + Tech Connect here.

Photo Credit: Food + Tech Connect

Photo Credit: Food + Tech Connect