The latest investment round will fund Plenty’s recently announced collaborations. “It’s a very tricky problem to solve.
October 15th, 2020 • 5 mins read • AgFunders News in . The company’s vertical farming technology can grow produce all year round, and Plenty claims that it uses 99pc less land and 95pc less water to grow crops than traditional methods. And the partnership with Driscoll’s will also enhance Plenty’s reputation for signing new grocery stores. Other investors include you-know-who’s Bezos Expeditions, early-stage agriculture investors Finistere Ventures, and tech VC Innovation Endeavors. Plenty’s San Francisco farm uses 100pc renewable energy and, according to the company, the firm can grow 1,500 acres of produce in a building the size of a big box grocery store. And since Plenty grows its produce in controlled indoor environments, the outdoor weather does not affect the crops. “The recent disruptions in the global supply chain caused by the West Coast wildfires and COVID-19 have highlighted how quickly our access to quality produce can be thwarted. Preparing for a hybrid future? “Other than delicious and yummy, that’s all we have to say,” explained Plenty Chief Executive Officer Matt Barnard, who added he eats some sort of Plenty product every day. Irish IoT company snapped up by Akamai in all-cash deal, €75m ESB fund launched to lower carbon footprint of energy heavy hitters, Intel stock drops after latest earnings report, Uber and Lyft brush off denied appeal ahead of Prop 22 vote, Facebook Dating rolled out in Europe after Valentine’s Day no-show, India to get free weekend of Netflix as company faces subscriber slowdown, Zoom makes end-to-end encryption globally available for all users, Doubts surround claim that Trump’s Twitter was hacked, Meri Williams: Driving tech strategy at a start-up using AI for drug discovery, HSE confirms close-contact alerts bug on iOS Covid Tracker app is fixed, Irish Covid Tracker app now linked with apps from Germany and Italy, Leveraging data analytics in a privacy-conscious world, Nokia and NASA to build moon’s first cellular network, Ann O’Dea and David McCourt to speak at the 2020 Valentia Lecture, Government marks ‘major milestone’ in National Broadband Plan, State of emergency: Keeping Ireland’s essential lines open during a pandemic, Pure Telecom signs a multimillion-euro deal with BT Ireland, Eir’s 5G availability has ‘increased more than threefold’ since launch, Meet the two Irish start-ups in the Techstars London Accelerator, Papershop helps restaurants manage their digital menus, Irish start-up Wayflyer raises $10.2m in seed capital, 9 Trinity College Dublin spin-outs and what they’re doing now, How a maternity leave break inspired a pivot to 3D printing, UK fintech Modulr secures e-money licence from Central Bank of Ireland, Weekend takeaway: Cosy up with 10 great sci-tech reads, The countdown is on to Ireland’s sci-tech extravaganza, Inspirefest 2017, Time running out to get your hands on Inspirefest early bird tickets, Construction begins on €500m Limerick Twenty Thirty development, Water on the moon: How discovery will boost future lunar missions, €21m awarded to nearly 300 new research projects in Ireland, €700,000 awarded to 12 researchers to work with State bodies, How Google searches could help predict future Covid-19 hotspots. Sky and Adobe want to prepare schools for a ‘digital-first society’, Survey: 45pc of remote workers expect hybrid working in 2021, How Ireland’s vital emergency call service was kept alive during Covid-19, What to expect from your first day on the EY graduate programme. Barnard, who serves as chief executive of Plenty, said: “The recent disruptions in the global supply chain caused by the west coast wildfires and Covid-19 have highlighted how quickly our access to quality produce can be thwarted.
All rights reserved. These include a joint development deal with Driscoll’s to grow its proprietary high-flavor strawberries in similarly ginormous vertical farm in Laramie, Wyoming; as well as its deal with grocery chain Albertsons, to bring Plenty greens to 431 of its California store locations. Plenty was co-founded by Matt Barnard, Jack Oslan, Nate Mazonson and Nate Storey in 2014. This data-driven, high-speed agri-food platform has allowed Plenty to show over 700% yield improvement in leafy greens in the last 24 months, while maintaining unique flavor and quality. Plenty’s agriculture platform uses data analytics, machine learning and customised lighting to iterate at high speeds, using 200 years’ worth of growing data. As a result, you'll benefit from fresher, more flavorful greens with a longer shelf life. “We believe Plenty is transforming the way food is made and are pleased to continue supporting their mission to build sustainable, intelligent farms that deliver healthy, safe produce with a focus on premium flavour.”.
Plenty is rethinking its growth strategy. All rights reserved. Learn about Plenty's growing technology.
How do companies ensure diversity in their workforce? The Series D round was led by existing investor, SoftBank Vision Fund 1, with participation from new investor Driscoll’s, a California-based agriculture business that claims to control around one-third of the $6bn berry market in the US. Its selling point is the year-round delivery of pesticide-free produce that “tastes like it was picked fresh from the garden.”. Plenty Raises $140 Million In Round Led By SoftBank. Other portfolio investments include AgBiome, which develops crop protection products based on the plant microbiome, soil and phyomicrobial technology firm Concentric, and farm management platform developer Conservis. Pontifax AgTech has been a key investor in gene CRISPR developer Caribou Biosciences, whose co-founder Dr. Jennifer Doudna was just awarded the Nobel Prize in Chemistry. An analytical mind is helpful, Exida to bring 25 new jobs to Shannon centre of excellence, £1m investment sees fintech firm Lightyear expand in Belfast, LetsGetChecked and Chargify to bring 80 new jobs to Dublin, These 24 companies are all currently hiring for jobs in data, 70 new jobs for Belfast as IT firm Version 1 expands, Major investment brings 60 skilled jobs to Dublin, 14,000 extra college places launched for ‘jobs-led recovery’, Report: Ireland still has plenty of graduate jobs despite Covid, ‘Lookism’ is still a problem in too many workplaces. Instead, it uses data analytics, machine learning and customized lighting to iterate its indoor growing processes at rapid speed, using a technology platform that generates more than 200 years worth of growing data each year.
“We have an interest in understanding how robotics can assist in the harvest of our crops,” said Scott Komar, Driscoll’s senior vice president for research and development via Bloomberg. Next week, Plenty will start listing jobs in the Compton facility, Barnard said. Last week, California-based Pontifax AgTech, the food and agriculture investment arm of life science VC Pontifax Venture Capital, announced the final close of its second fund (Pontifax AgTech Fund II) at $302 million. Including this round of funding, Plenty has raised over $500 million. The Series D round was led by existing investor, SoftBank Vision Fund 1, ... Plenty’s technology. And Driscoll’s will gain a board observer at Plenty. Human endeavour and resilience on show at Future Human 2020. Pontifax AgTech invests globally in commercially established businesses with proven technologies that improve the productivity, sustainability and efficiency of the food and agriculture supply chain. Without innovation in agriculture, this demand will be impossible to meet. 7 US companies hiring in Ireland right now, 7 of the coolest science jobs in the world, Thinking about a career in marketing? This fruit is so delicate.” On Monday, Driscoll’s and Plenty said they agreed to grow strawberries together.
© 2020 Pulse 2.0 LLC. In the future, the partnership could enable these companies to sell product all year in regions that are generally more difficult to reach like remote areas of Asia. Existing investor SoftBank’s Vision Fund led the latest round, along with new investor Driscoll’s, the “big berry” behemoth that controls about one-third of the $6 billion U.S. berry market. And for Driscoll’s, the company will gain a partner that specializes in using robots to assist with farming. Plenty’s controlled and resilient farms and local distribution made it easy for us to scale quickly, even during the pandemic, demonstrating that our indoor, vertical farm flourishes under environmental pressures and delivers delicious greens along with the sales that come with it.”.
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