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BrightFarms Secures $100 Million Series E Round of Funding to Expand High-Tech Indoor Farming Across the U.S.

Oct 20, 2020•almost 5 years ago

Amount Raised

$100 Million

Round Type

series e

Irvington

Description

 BrightFarms, a leading next-generation indoor farming company supplying U.S. grocery retailers with packaged salad greens, has secured more than $100 million in debt and new equity capital to support robust expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors. BrightFarms will use the funds to invest in its current farms and retail programs and expand its network of regional indoor farms across the U.S.

Company Information

Company

Bright Farms

Location

Irvington, New York, United States

About

BrightFarms is a leading provider of locally grown packaged salads, serving the freshest, tastiest and most responsibly grown produce to consumers nationwide. BrightFarms operates hydroponic greenhouse farms in the communities it serves, enabling it to eliminate time, distance, and costs from the food supply chain. BrightFarms' growing methods, a model for the future of scalable, sustainable local farming, use far less energy, land and water than long distance, field-grown agriculture. Forbes has recognized BrightFarms as one of the "100 Most Consumer Centric Companies" and Fast Company has recognized BrightFarms as "One of World's 50 Most Innovative Companies" and one of the "Top 10 Most Innovative Companies in Food." BrightFarms is funded by leading investors Cox Enterprises, Catalyst Investors, WP Global Partners and NGEN Partners. For more information, please visit www.brightfarms.com.

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