Brightfarms, the greenhouse operator, closed a $30.1 million Series C led by growth equity firm Catalyst Investors and joined by existing investors WP Global Partners and NGEN Partners. According to the company, this funding is the largest equity investment to date in the controlled environment local produce industry in the US.
Better yields, the opportunity to harvest more times a year and higher retail prices are making indoor farming more productive than conventional outdoor operations, according to a new report from data software company Agrilyst.
The only deal in a quiet week for agtech fundings is Agrivida, a biotech startup in the animal nutrition industry. The startup has raised $20.4 million in Series E funding, in a first close for the round.
For the eighth round of this annual event, 20 companies will present across multiple technology categories while panel discussions will focus on food waste, gene-editing technology and a keynote from farmers.