BrightFarms Secures $100 Million Series E Round of Funding to Expand High-Tech Indoor Farming Across the U.S.
IRVINGTON, N.Y., Oct. 28, 2020 /3BL Media/ – BrightFarms, a leading next-generation indoor farming company supplying U.S. grocery retailers with packaged salad greens, has secured more than $100 million in debt and new equity capital to support robust expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors.
The agriculture industry is at a crucial turning point, being forced to grapple not only with increased production demands to feed a growing global population, but also having to find ways to deal with climate change and its associated environmental impacts and supply chain risks. AgFunder News chief editor writes an Antea Group blog about the innovations coming down the pipeline, with the good news and bad news that come with them.