AeroFarms raises $100 million Series E

July 10, 2019
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The Series E was led by the Ingka Group, with participation from Middleland Capital, MissionPoint Capital, China's GSR Ventures, and AllianceBernstein, as well as existing investors Wheatsheaf and ADM Capital. This raise brings AeroFarms' total funding to $235 million. The company will expand its indoor system beyond leafy greens to include berries. While producing high-value crops could promote vertical farming in other industries (like CPGs), the impact on profitability has been uncertain. However, direct competitor Plenty also announced plans to diversify crop production after its $200 million investment. Clients, indoor farming will expand the availability of high-value produce, but expect crop development requirements to achieve ROI.

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