by StartupWorld Staff         

Plenty, a San Francisco-based indoor farming startup, is in the course of negotiation to lift $100 million or more in fresh funding from a Japanese-based multinational conglomerate Softbank Vision Fund. Besides, DCM, Amazon CEO Jeff Bezos and former Google CEO Eric Schmidt, and Data Collective also participated in the funding round. 

With the new funding, Plenty is aiming to become more efficient compared with traditional farms, and have to produce more plants in a given space with less water. Moreover, the total funding of Plenty has reached $400 million.  

In 2014, Jack Oslan, Matt Barnard, Nate Mazonson and Nate Storey founded Plenty which brings local people and communities together for planting fresh, tasty fruits and vegetables by using less amount of water, less than 1% of the land, and without using chemical pesticides and fertilizers. Besides, all the fruits and vegetables are GMO-free.    

Plenty has four key features such as Next Level Freshness, Taste You Can Trust, Nature Meets Nurture and Available Year Round. In Next Level Freshness, Plenty produce fresh and flavorful fruits and vegetables. In Taste you Can Trust, it cultivates crops without using any pesticides or fertilizers. In Nature Meets Nurture, it’s plants are 100% nurtured in an indoor environment. In the Available Year Round, it grows plants indoors and the flavorful crops are always available in the season. Moreover, it also helps plants to live their best lives. 

As per reports, Plenty is planning to extend over the Bay Area. Moreover, the next farm place is in Los Angeles and the operation is going to start in the second half of 2020.

This month, SoftBank is trying to get $10 billion funds. So, its Vision Fund portfolio companies can back some of the portfolio companies affected due to the COVID-19.

Some of the Vision Fund’s companies including residential real estate brokerage Compass and the co-working giant WeWork have fired their employees this month.

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StartupWorld Staff

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