“As a relatively lean company, we had to just make a decision about where we were going to put our focus and we felt like building Tigris, while also focusing on Seattle as a new and really important market, was something that we couldn’t do well,” Ra said.
Ra said Plenty ceased operations in Kent a year ago. In the two years since announcing plans to build a 100,000 square-foot vertical farm in the Seattle region, Plenty developed Tigris, a new facility near its San Francisco headquarters. PitchBook’s comparison feature gives you a side-by-side look at key metrics for similar companies.
Some employees were given the opportunity to relocate to San Francisco. Operator of an Indoor vertical farm intended to grow fresher, tastier and more nutritious produce which is available everywhere. Personalize which data points you want to see and create visualizations instantly. The same venture capitalist said that if that figure was true, the valuation would be “crazy” for a company that appears to be pre-revenue.
WhatsApp acquired by Facebook). Plenty has raised more than $200 million in venture funding. All rights reserved. The five-year-old startup promises its new Tigris farm can produce fruits and vegetables using less than 5 percent of the water and 1 percent of the land required in traditional agriculture. “We decided that the best course of action would be to hibernate Seattle,” said Christina Ra, Plenty’s senior director of integrated marketing. One agtech venture capitalist said that Plenty had a pre-money valuation of $500 million, but Plenty CEO Matt Barnard would not confirm this figure. Aug 12, 2020. Which funding types raised the most money? Pentagon worries that satellite attacks could spark ‘mutually assured destruction’, Amazon disavows Mississippi police program that plans to use Ring cameras for real-time surveillance, Xbox Series X/S review: Microsoft’s new console is a big step forward, but not a leap, Husband of ex-Amazon finance manager pleads guilty in $1.4M insider trading case, Avalara reports $127.9M in Q3 revenue and acquires assets from Business Licenses for $97M, Redfin beats Q3 estimates but stock dips; CEO says company’s tech is a ‘passport to a new life’, T-Mobile tops 100M customers, posts $1.3B in quarterly profit six months after Sprint merger, Zillow Group crushes Q3 estimates with $657M in revenue and record traffic amid housing boom, Research alliance co-founded by Fred Hutch and Microsoft announces initial cancer studies, Nintendo sells 6.86M more Switch consoles and eclipses lifetime sales of classic NES, Seattle cybersecurity startup Rubica shuts down after running out of cash, Built to scale: Seattle startup weighs its own success as Amazon releases similar smart shelf, Jeff Bezos’ annual Amazon stock sales eclipse $10B for the first time, Expedia Group revenue falls 58% despite bright spots in ‘bumpy and unpredictable’ travel market, ‘MeowTalk,’ an app that translates cat sounds, is a pet project for this former Alexa engineer, Fred Hutch researchers uncover new genetic details of White House COVID-19 outbreak, Seattle-area health officials call for ‘COVID-19 reboot’ as cases and hospitalizations rise, Former Zillow execs raise $40M seed round for Tomo Networks to reinvent how people buy homes, Joe Biden’s campaign funding ‘bundlers’ include some top names in Seattle tech, Amazon to restore small Elephant Car Wash sign and display piece of Seattle history on its campus, Amazon hires 248,500 people in Q3 as Jeff Bezos challenges large employers to raise minimum wage, How this virtual event startup rebounded from a near-shutdown to an acquisition amid the pandemic, Navigating Cancer’s founder and former CEO sues its investor Merck, alleging gender bias and interference with acquisition talks, TVision launch: Why T-Mobile’s CEO isn’t overly focused on profits from new video platform, What gives you hope?
Plenty is rethinking its growth strategy. Infarm plants its blend of vertical farming and cloud computing in QFC grocery stores, Blue Origin’s expansion plans rush ahead at its Seattle-area HQ — and in Los Angeles, Revolution Agriculture reimagines the food supply chain with urban ‘farmlets’ in backyards, Lift Aircraft reports progress on eVTOL testing, with Austin launch (and Seattle stopover) in mind, Jeff Bezos’ Blue Origin venture fleshes out plans for 2023 cargo delivery to the moon, Do the math with Steve Brunton, a UW professor whose YouTube popularity keeps adding up, Photos: Tree deep in Asian giant hornet nest, entomologists recover ‘chewed off’ radio tracker, He moved to Seattle a year ago and has already built a tool to help local businesses battle Amazon, Like what you're reading? Inspiration from scientists, entrepreneurs and innovators as anxious public awaits historic election results, Jeff Bezos and other investors raise $200 million for vertical farming startup Plenty. Search for a property by street address, valuation number or legal description. PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach. The company is continuing to grow in its home state of California but has no plans in the immediate future to launch a farm in Washington. GeekWire Podcast: Biden’s Seattle tech bundlers; Amazon’s smart shelf; Where’s Gabe Newell? How much funding has this organization raised over time?
SENIOR DATA SCIENTIST/ MACHINE LEARNING ENGINEER. Information on valuation, funding, cap tables, investors, and executives for Plenty. The system uses thousands of infrared cameras and sensors to collect data in the farms that is analyzed using machine learning to optimize growth. It’s a prospect that has attracted some of the biggest names in tech. Which types of acquisition does this organization make most frequently. When your property appears on the list below, click the valuation number to access more information. Plenty has acquired Bright Agrotech on Jun 14, 2017. It was just a decision we had to make to prioritize and focus as a small company and the limited resources that we had.”. It does not use pesticides, herbicides, synthetic fertilizers, or GMOs. Algorithmia CEO Diego Oppenheimer is ready with a pep talk.
Angel - Uber), Number of Investors: Total number of Investors in a Funding Round, Money Raised: Amount of money raised in Funding Round, Lead Investors: Name of the investor who led the investment in the funding round, Investor Name: Name of the investor who participated in the Investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Partners: Name of the individual who led a funding round for his/her firm, Acquiree Name: Name of the acquired organization, Announced Date: Date the acquisition was announced, Transaction Name: Auto-generated name of transaction (e.g. © 2020 PitchBook Data. by Monica Nickelsburg on November 15, 2019 at 9:38 amNovember 19, 2019 at 3:09 pm. Albertsons Companies Partners with Plenty to Offer Indoor-Grown Greens Across Its California Stores. Plenty's vertical farms use 99% less water than conventional fields, are pesticide-free, and produce zero fertilizer runoff. Last month, Plenty announced plans to open a next-generation farm in Los Angeles. To date it has only built one farm outside its headquarters, according to Fast Company. Strategies for remote-work success: Set clear start and end times, check in on people, have patience, In a COVID slump? Become a member, support independent journalism! As COVID cases break records and keep rising, why no new restrictions in Seattle region? The company uses its proprietary vertical farming systems that combine engineering, software and crop science to deliver crops that require less water and no pesticides or GMOs, enabling users to get healthy food. Subscribe to GeekWire's free newsletters to catch every headline, presented by First Tech Federal Credit Union, Cannabis testing lab Confidence Analytics raising cash to expand to California, Oh, Christmas tree, even you are turned on by Amazon and Alexa … and it might be pretty cool. Today, three of the employees who worked in Kent are still with Plenty. Plenty is an indoor vertical farming company that uses less space and fewer resources to grow flavorful, healthy, fresh, and clean produce year-round. GeekWire members support independent journalism at a time when trusted storytelling and community engagement is more important than ever. “Seattle’s still on our roadmap,” Ra said.
“It’s a really important market for us.
The indoor agriculture startup backed by high-profile tech executives — including Amazon CEO Jeff Bezos — has canceled plans to open a major Seattle-area farm, GeekWire learned this week. Ra said it is unlikely that Plenty will circle back to the Kent facility but the company still maintains its lease on the building. Backers of the company’s last fundraising round include SoftBank (via its Vision Fund); Alphabet Chairman Eric Schmidt (through Innovation Endeavors); Bezos (through Bezos Expeditions); DCM Ventures; Data Collective; Finistere Ventures; and Louis Bacon. Plenty has a post-money valuation in the range of $500M to $1B as of Jul 19, 2017, according to PrivCo. Plenty is rethinking its growth strategy. Use the PitchBook Platform to explore the full profile.
Subscribe to GeekWire's free newsletters to catch every headline. Ut, ommodo consequat. Total amount raised across all funding rounds, Total number of lead investment firms and individual investors, Total number of investment firms and individual investors, Announced Date: Date that the Funding Round was publicly announced, Transaction Name: Auto-generated name of transaction (e.g. Indoor farming remains an untested industry with plenty of casualties. Plenty said it changed plans because the Kent, Wash., facility could no longer accommodate its next-generation vertical farm. Get the full list », To view Plenty’s complete acquisitions history, request access », To view Plenty’s complete subsidiaries history, request access », Co-Founder, Chief Executive Officer & Board Member. With the Seattle-area operation defunct, LA will be Plenty’s first expansion beyond its home markets in South San Francisco and Wyoming. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fu, To view Plenty’s complete valuation and funding history, request access », To view Plenty’s complete cap table history, request access », To view Plenty’s complete competitors history, request access », You’re viewing 4 of 8 executive team members. Editor’s note: This story has been updated to note that three Kent employees still work for Plenty. Let us know. Get the full list », To view Plenty’s complete board members history, request access », You’re viewing 5 of 18 investors. Plenty is a vertical farming company that brings fresh, clean, and craveable produce to people everywhere. Another startup called Aerofarms pledged to build 25 indoor farms over five years in 2015. Correction: Last year, Plenty raised $175 million in a Series C deal, bringing its total funds to $400 million and its valuation to $1.05 billion, according to PitchBook data. Sign up for a free trial to view exact valuation and search companies with similar valuations. Other startups in the space have struggled over the years. Have a scoop that you'd like GeekWire to cover? The indoor agriculture startup backed by high-profile tech executives — including Amazon CEO Jeff Bezos … Local Garden Vancouver, a similar crop-yielding greenhouse concept, declared bankruptcy a few years ago. Plenty grows its plants in tall towers inside a climate-controlled facility with LED lights.
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