Agrify Seeks $25 Million IPO For Indoor Agriculture Growth Plan
Written by: Donovan Jones Marketplace
Author of IPO Edge.
Dec. 28, 2020
Summary
Agrify has filed to raise $25 million in an IPO.
The firm sells proprietary products and software to the indoor vertical farming market.
AGFY has grown quickly from a very small revenue base and the industry has promising growth prospects.
Quick Take
Agrify (AGFY) has filed to raise $25 million in an IPO of its common stock, according to an S-1 registration statement.
The firm develops products and related services for the indoor agriculture market.
AGFY is a still tiny firm growing topline revenue quickly while operating in a promising industry.
I’ll provide an update when we learn more about the IPO from management.
Company & Technology
Burlington, Massachusetts-based Agrify was founded to provide proprietary hardware and software to enhance the efficiency of indoor agriculture operations.
Management is headed by CEO Raymond Change, who has been with the firm since 2019 and was previously the founder of GigaMedia (GIGM).
Below is a brief overview video of a vertical farming operation:
To read the full article, please click here.
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