Climate Finance | August 11, 2021

80 Acres Farms raises $160 million to scale vertical farming

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 11 — Vertical farming ventures are raking in capital on the promise of increased food security and decreased carbon emissions. One disadvantage compared to both conventional farming and ground-level greenhouses: significantly higher energy use.

Hamilton, Ohio-based 80 Acres says its vertical farming systems use renewable energy to grow leafy greens, herbs, tomatoes, cucumbers and microgreens.

“There’s a pressing need for healthy, fresh and local foods that are grown in more sustainable and cost-effective ways,” said Shaw Joseph of General Atlantic, which led the company’s Series B financing with participation from Siemens, Blue Earth Capital and others.