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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Jeff Bezos-Backed Farm Aims to Revolutionize Conventional Agriculture

Jeff Bezos-Backed Farm Aims to Revolutionize Conventional Agriculture

Foodable has reported on indoor vertical farming in the past, but this startup is getting a major boost early on as it expands to compete in new markets.

Plenty, a Bay Area-based, vertical farming startup, will be expanding into Washington state with the help of a $200 million investment from this summer.

The company is backed by Jeff Bezos among other investors, and it has set plans to open a 100,000-square-foot warehouse in greater Seattle area— in Kent, Washington, to be exact— to become Plenty’s second vertical farm location. The new facility will be twice the size of the original one.

Out of all the vertical farming startups, this company has been able to raise the most money. However, what is most significant about Plenty is not its ability to appeal to investors, but the fact that it will be able to grow 4.5 million pounds of greens annually.

As reported by “Business Insider,” the amount of produce that will be grown in this new facility will be “enough to feed around 183,600 Americans, according to the USDA.”

Founded in 2014, Plenty “claims to grow up to 350 times more greens than conventional farms of similar size, while using much less water and land,” according to “Business Insider.”

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

America's First Vegan-Certified Vertical Farm Leaps Into the Future of Agriculture
  • Metropolis Farms is the world’s first solar-powered urban vertical farm which will be 100 percent energy-efficient.

  • Metropolis Farms grows over two million pounds of nutritious produce — without the need for harsh chemicals or animal products.

In this episode of “Sustain,” we learn how former venture capitalist, Jack Griffin,  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 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!”

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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.