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Bowery Farming Secures Investment Capital

06/01/2021

Bowery Farming has received $300 million in investment capital adding to a previous funding round of $170 million.  The latest infusion was led by the Fidelity Management and Research Co. and included participation by Google Ventures, Groupe Artemis and from entertainment personalities Natalie Portman and Justin Timberlake. Funds will be used to expand indoor farming and to advance research and development.

 

Products from Bowery Farming are now marketed in 850 stores including banners such as Safeway, Acme, Walmart, Whole Foods Market and Giant Food.  Amazon Prime has contributed to expansion of online sales.

 

Bowery has concentrated on developing computerized operating systems to integrate hardware, sensors and robotics. In May, Bowery Farms opened a research and innovation hub in Kearny, NJ. to develop new cultivars and technology for root vegetables, tomatoes and strawberries.

Parallels between vertical farming and aviary production of eggs are self evident.  If in fact the egg industry reduced production capacity, existing building may be suitable for conversion to vertical farming.

 

The concept of intensive production of leafy green and root vegetables and possibly berries offers considerable advantages over conventional row crop agriculture.  These include reduction of labor requirement, saving of water by avoiding wasteful extensive-scale irrigation, elimination of the problem of STEC contamination, avoiding transport costs by locating production close to major areas of consumption and elimination of pesticides and herbicides.