Plenty

FoodTech

Founded: 2013

Last Round Valuation: $1.25B

Plenty is a pioneering agricultural technology company that is at the forefront of revolutionizing modern farming practices. With a mission to enhance global food security, the company employs innovative vertical farming techniques to cultivate fresh, nutritious, and sustainable produce in urban environments. Using advanced indoor farming technology and precision agronomy, Plenty has reimagined the traditional approach to agriculture, transcending the limitations of conventional farming methods. By leveraging data analytics, artificial intelligence, and sustainable practices, Plenty aims to deliver high-quality, locally grown produce year-round, minimizing the environmental impact and reducing the reliance on traditional farming's resource-intensive processes. Through its cutting-edge approach to agriculture, Plenty strives to contribute to a healthier, more resilient food system for a rapidly growing global population.

Plenty Overview:

Plenty is a pioneering agricultural technology company that has set out to revolutionize the way food is grown and distributed. Founded in 2014 by Matt Barnard, Nate Mazonson, Jack Oslan and Nate Storey, the company's vision is to transform the global food system by addressing the challenges of limited arable land, climate change, and the need for sustainable and fresh produce year-round.

At the heart of Plenty's approach is vertical farming, a sophisticated method of growing crops in vertically stacked layers, often in controlled indoor environments. This innovative technique enables Plenty to produce crops in large quantities within urban areas, close to the end consumers, reducing the need for long-distance transportation and minimizing the carbon footprint associated with traditional agriculture.

Plenty's vertical farms are equipped with advanced technology, including automated systems, climate control, and specialized LED lighting that mimics natural sunlight. These features create an optimized environment for plants to grow, resulting in accelerated growth rates and consistently high-quality produce.

Precision agronomy plays a crucial role in Plenty's operations. The company leverages data analytics, machine learning, and artificial intelligence to continuously monitor and fine-tune the growing conditions for each crop. This data-driven approach allows Plenty to optimize resource usage, such as water, nutrients, and energy, leading to higher yields and reduced waste.

One of the significant advantages of vertical farming is its ability to produce food year-round, independent of weather conditions. By maintaining a controlled environment, Plenty can ensure a consistent supply of fresh, locally grown produce regardless of seasonal limitations. This resilience is particularly valuable in regions with extreme climates or limited agricultural land.

Plenty's commitment to sustainability is evident in its focus on water conservation. Vertical farming consumes significantly less water compared to traditional agriculture, as water usage is carefully managed through closed-loop irrigation systems and advanced water recycling processes.

The company's produce is grown without the use of harmful pesticides and genetically modified organisms (GMOs), aligning with consumer preferences for safe and environmentally friendly food choices.

To expand its operations and bring its fresh produce to more consumers, Plenty has established partnerships with various retailers and foodservice companies. Through these collaborations, the company aims to scale its operations and make a meaningful impact on the global food supply chain.

With its innovative farming methods, data-driven practices, and dedication to sustainability, Plenty is pioneering a new era of agriculture that addresses the challenges of feeding a growing global population while minimizing environmental impact. As the world faces increasing pressures on food security and sustainability, Plenty's vision and technology offer a promising solution for a more resilient and nutritious food future.

Founders:

  • Jack Oslan

  • Matt Barnard

  • Nate Mazonson

  • Nate Storey

Top Investors:

  • Bezos Expeditions

  • DCM (also known as DCM Ventures)

  • Data Collective

  • Driscolls

  • Finistere Ventures

  • Innovation Endeavors

  • JS Capital

  • Kirenaga Partners

  • Moore Capital Management

  • NFX

  • Northwestern University Endowment

  • One Madison Group

  • SoftBank

  • Walmart

  • Western Technology Investments

Funding History:


Date Share Type Amount Raised Raised to Date Issue Price Post Money Valuation Key Investors
Jan 2022 Series E-1 $200MM $738.56MM $0.69 $1.25B One Madison Group, JS Capital, Walmart
Jan 2022 Series E $200MM $738.56MM $0.69 $1.25B One Madison Group, JS Capital, Walmart
Oct 2020 Series D $70.14MM $468.7MM $0.69 $642.63MM Softbank, Driscolls
Oct 2020 Series D-1 $69.86MM $468.42MM $0.69 $642.63MM Softbank, Driscolls
Jan 2020 Series C-1 $87.5MM $311.06MM $0.69 $1.02B Finistere Ventures, Kirenaga Partners, Northwestern University Endowment
Jan 2020 Series C-2 $87.5MM $311.06MM $0.69 $1.02B Finistere Ventures, Kirenaga Partners, Northwestern University Endowment
Jul 2017 Series SAFE 2 $1.25MM $22.32MM $1.23 $504.95MM SoftBank, Moore Capital Management, Innovation Endeavors
Jul 2017 Series B $201.24MM $222.31MM $1.36 $504.95MM SoftBank, Moore Capital Management, Innovation Endeavors
Jun 2016 Series A $19.61MM $19.61MM $0.29 $47.65MM Bezos Expeditions, Data Collective, DCM Ventures
Jun 2016 Series SAFE 1 $1.47MM $1.47MM $0.23 $47.65MM Bezos Expeditions, Data Collective, DCM Ventures

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