Tag: AgTech

[Plenty in FoodDive] Driscoll’s, Plenty partner on vertical farm for strawberries

Both Driscoll’s and Plenty benefit by partnering on a vertical farm dedicated to strawberries. For the berry giant, which already has made an unspecified “major investment” in Plenty, it provides an opportunity to tap into the food tech firm’s data analytics and machine learning expertise to boost yields potentially 150 to 350 times higher per acre than it could achieve in a conventional field setting, according to the companies. Read...

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[Plenty in CNBC] Walmart makes an investment in vertical farming start-up Plenty

Walmart said Tuesday that it is investing in vertical farming company Plenty and plans to carry the start-up’s leafy greens in all California stores later this year. The big-box retail giant did not disclose the size of the equity stake or the terms of the commercial deal, but said a Walmart executive will join Plenty’s board. Walmart’s investment is part of a $400 million round of funding for Plenty led by One Madison Group and JS Capital, with participation from SoftBank Vision Fund. Read...

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[Plenty in Reuters] U.S. indoor vertical farm Plenty gets big injection of cash and Walmart deal

Jan 25 (Reuters) – Retail giant Walmart Inc said on Tuesday it is investing in indoor vertical farm Plenty as part of a $400 million funding round and will be buying leafy greens from them for its stores in California. The investment in the South San Francisco startup that grows leafy greens under banks of lights is one of the biggest in the indoor farming business, and the distribution deal from Walmart is a sign of mass market appeal from an industry that has not delivered on early expectations. High costs have been a challenge for the industry. Read...

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