US-based Gotham Greens, a pioneer in indoor agriculture operating high-tech greenhouses, raised US$ 87 million in new equity and debt capital, 8 December 2020.
The Series D round was led by Manna Tree and joined by The Silverman Group and other existing investors. The funding round has brought the company’s total financing to US$ 130 million.
The funds will be utilized by Gotham Greens to continue developing more greenhouses across the U.S. and bring new vegetables to market.
About Gotham Greens
Founded in 2009 by Eric Haley and Viraj Puri, Gotham Greens grows and sells long-lasting, delicious leafy greens and herbs along with a line of fresh salad dressings and sauces. It has launched several new fresh, plant-forward products, including new packaged salads, cooking sauces and grab-and-go salad bowls featuring fresh Gotham Greens lettuce, Gotham Greens salad dressing and protein-packed toppings.
The company operates one of the largest networks of hydroponic leafy greens-producing greenhouses in North America. The demand for indoor grown produce is rapidly increasing and as a pioneer in indoor farming and plant-based fresh food, Gotham Greens is planning to accelerate its mission to decentralize food production and bring more fresh foods to people across the United States through channel and geographic market expansion, while increasing operational capacity and new product development.
“Given increasing challenges facing centralized food supply chains, combined with rapidly shifting consumer preferences, Gotham Greens is focused on expanding its regional growing operations and distribution capabilities at one of the most critical periods for America. We’re dedicated to changing how people think, feel and interact with their food while decreasing the environmental footprint of the traditional produce supply chain,” said Viraj Puri, Co-Founder and CEO of Gotham Greens.
The company claims that it has doubled its revenue in the past year, bringing its fresh produce and food products to retailers in more than 40 U.S. The company’s expansion has driven 80 percent growth in retail unit sales year over year.
What Investors have to say
“Gotham Greens is the fastest-growing indoor farming company in the United States today with a track record of profitable, commercial-scale production. The pandemic has revealed flaws in America’s food supply chain system, particularly in the produce category, and new leaders and innovators need to emerge to ensure a stable food supply for the future. We believe Gotham Greens’ brand, highly scalable business model and leadership team position the company to be the market leader in the rapidly growing and changing landscape,” said Brent Drever, Co-Founder and President of Manna Tree.
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