SoftBank Leads $140 Million Funding for Vertical Farming Startup Plenty

Bloomberg reporting Berry specialists Driscoll’s are also investing and getting involved as strategic partner.

Vertical-farm company Plenty Unlimited Inc. said it has raised $140 million in fresh financing led by existing backer SoftBank Group Corp. along with new investor Driscoll’s Inc. The cash and collaboration with berry specialists Driscoll’s will help it advance into new products such as strawberries.

Down the line, the partnership could allow the two companies to sell produce all year round in regions that are difficult to reach currently, such as parts of Asia. In a controlled indoor environment, the vagaries of weather don’t affect the crops or the workers who tend them.

Plenty also plans to open a new indoor farm in Compton, a city in Los Angeles County, next year, which will allow it to expand its markets and introduce new types of greens.

“Other than delicious and yummy, that’s all we have to say,” said Plenty Chief Executive Officer Matt Barnard, who added he eats some sort of Plenty product every day.

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