Gotham Greens, a pioneer in indoor agriculture working high-tech greenhouses positioned throughout the USA, has raised $87 million in new fairness and debt capital, bringing the fast-growing firm’s whole financing to $130 million. The capital elevate contains Gotham Greens’ current Sequence D spherical led by Manna Tree and joined by The Silverman Group and different current traders.
Gotham Greens operates one of many largest and most superior networks of hydroponic leafy greens-producing greenhouses in North America, the place the demand for indoor grown produce is quickly growing. As a pacesetter within the indoor farming and plant-based recent meals classes, Gotham Greens plans to make use of the newest funding to speed up its mission to decentralize meals manufacturing and convey extra recent meals to folks throughout the USA via channel and geographic market growth, elevated operational capability and new product growth.
“Given growing challenges going through centralized meals provide chains, mixed with quickly shifting shopper preferences, Gotham Greens is concentrated on increasing its regional rising operations and distribution capabilities at one of the vital crucial durations for America,” stated Viraj Puri, Co-Founder and CEO of Gotham Greens. “We’re devoted to altering how folks assume, really feel and work together with their meals whereas lowering the environmental footprint of the normal produce provide chain.”
Gotham Greens has doubled its income previously 12 months, bringing its recent produce and meals merchandise to retailers in additional than 40 U.S. states via its community of high-tech, climate-controlled greenhouses. The corporate’s growth has pushed 80 p.c development in retail unit gross sales 12 months over 12 months.1
“Gotham Greens is the fastest-growing indoor farming firm in the USA in the present day with a track-record of worthwhile, commercial-scale manufacturing,” stated Brent Drever, Co-Founder and President of Manna Tree. “The pandemic has revealed flaws in America’s meals provide chain system, notably within the produce class, and new leaders and innovators must emerge to make sure a steady meals provide for the long run. We consider Gotham Greens’ model, extremely scalable enterprise mannequin and management workforce place the corporate to be the market chief within the quickly rising and altering panorama.”
“Manna Tree brings a world community of traders and shares our mission and dedication to broaden entry to wholesome, sustainably-grown recent produce,” stated Eric Haley, Co-Founder and CFO of Gotham Greens. “Our industry-leading crop yields and capital effectivity in constructing and working indoor farms continues to draw robust help from each new and current traders and underscores Gotham Greens’ worth proposition and class management place.”
Gotham Greens has doubled capability previously 12 months by opening new greenhouses in Chicago, Windfall, R.I., Baltimore and Denver. These services have expanded distribution of Gotham Greens’ salad greens, herbs, salad dressings and sauces to new areas, together with the New England, Mid-Atlantic, Southeast and Mountain areas. Gotham Greens merchandise can be found in additional than 2,000 retail shops, together with Entire Meals Market, Albertsons Firms (Safeway, Jewel-Osco and Shaw’s), Meijer, Goal, King Soopers, Harris Teeter, ShopRite and Sprouts. The corporate’s gadgets additionally can be found for buy via grocery ecommerce websites, together with AmazonFresh, FreshDirect and Peapod.
The model lately launched a number of new recent, plant-forward merchandise, together with new packaged salads, cooking sauces, and grab-and-go salad bowls that includes recent Gotham Greens lettuce, Gotham Greens salad dressing and scrumptious, protein-packed toppings.