ERIK KOBAYASHI-SOLOMON / FORBES – “Eyewatering”
That’s the best description for recent capital inflows into the vertical farming industry. Take a look:
- July 2017: Softbank invests $200 million in Plenty.
- August 2017: IKEA and the Sheikh of Dubai invest $40 million in AeroFarms (with $115 million invested in the company over its life)
- December 2018: GV (Google Ventures) invests $90 million in Bowery Farming.
As someone focused on climate change investing, it’s hard not to take note of the scale of capital flows into private vertical farming companies.
As I mentioned in Agriculture is Broken; AgTech Can Fix It, there is a lot to like about the idea of applying modern technological solutions to the problem of food production. The global population is expanding while the earth is heating up. Something must be done to keep us out of the dismal realm …