Total amount raised
$961 Millions
Latest funding date
Location
Plenty has successfully raised significant funding through multiple rounds, attracting notable investors such as the Wyoming Business Council and SoftBank Vision Fund. The company is pioneering the field of indoor vertical farming, offering pesticide-free produce like crispy lettuce and baby kale.
Keep reading to delve into the details of Plenty's funding journey and the investors who are backing this innovative agricultural venture.
What Is Plenty?
Plenty, founded on August 21, 2014, in South San Francisco, California, is a vertical farming company that produces fresh, pesticide-free produce. The company was established by Jack Oslan, Matt Barnard, Nate Mazonson, and Nate Storey.
Specializing in indoor vertical farming, Plenty aims to reimagine traditional farming by using a fraction of the water and land required in conventional methods. Their produce includes crispy lettuce, baby kale, and strawberries, all grown without pesticides.
With a workforce of 251-500 employees, Plenty continues to innovate in the agricultural sector, focusing on sustainability and cleaner food production.
How Much Funding Has Plenty Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
- Series A
- Amount Raised: $24.5M
- Date: July 2016
- Lead Investors: DCM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's technological capabilities and scale production.
- Series B
- Amount Raised: $200M
- Date: July 2017
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance infrastructure and increase market reach.
- Series C
- Amount Raised: $175M
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's vertical farming technology.
- Series D
- Amount Raised: $140M
- Date: October 2020
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series E
- Amount Raised: $400M
- Date: January 2022
- Lead Investors: One Madison Group, JS Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth strategy and expand operations.
- Grant
- Amount Raised: $20M
- Date: February 2023
- Lead Investors: Wyoming Business Council
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainable agricultural initiatives.
Total Amount Raised: $961M. Current Valuation: Not publicly disclosed.
Key Investors
- Wyoming Business Council
- Details: The Wyoming Business Council is a state economic development agency that supports business growth and innovation in Wyoming.
- Investment Focus Areas: Economic development, business growth, innovation within Wyoming.
- Notable Investments: Specific investments are not detailed.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund that invests in technology companies globally.
- Investment Focus Areas: Technology, innovation, scalable business models.
- Notable Investments: Uber, WeWork, Arm Holdings.
- One Madison Group
- Details: One Madison Group is a private investment firm founded by Omar Asali, who also serves as Chairman and CEO of Ranpak Holdings Corp.
- Investment Focus Areas: Long-term investments, high-quality businesses, innovative and scalable models.
- Notable Investments: Ranpak Holdings Corp.
- JS Capital
- Details: JS Capital is the family office of Jonathan Soros, focusing on a variety of investment opportunities.
- Investment Focus Areas: Technology, real estate, strategic partnerships.
- Notable Investments: Specific investments are not detailed.
- Walmart
- Details: Walmart is a multinational retail corporation and one of the world's largest retailers.
- Investment Focus Areas: Retail, e-commerce, technology.
- Notable Investments: Strategic commercial agreement with Plenty to source leafy greens for California stores.
What's Next for Plenty?
Plenty's future is brimming with opportunities, particularly in expanding its indoor vertical farming technology globally. With a strategic partnership with Walmart and a $400 million Series E funding round, the company is poised to revolutionize sustainable agriculture. The potential to sell multi-crop farms directly to partners and leverage its technology platform offers significant growth prospects.
Future fundraising seems promising as Plenty continues to attract strategic partners and investors. However, challenges such as high operational costs, competition, and regulatory hurdles could pose obstacles. Navigating these complexities will be crucial as Plenty scales its operations and aims for global market penetration.
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