June 1, 2021

Justin Timberlake, Natalie Portman among investors in Bowery Farming’s $300 million funding infusion

Vertical farming leader Bowery Farming has secured $300 million in funding from a vast group of investors, including celebrities Natalie Portman and Justin Timberlake.

Photo: Bowery Farming

Bowery Farming, the largest vertical farming company in the U.S., has secured $300 million in additional funding in a round led by Fidelity Management & Research Company LLC, with significant follow-on investment from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek, Groupe Artémis (Pinault-owned), as well as new participation from Amplo and Gaingels, a fund representing the LGBTQ community and allies.

Additional individual investors in the round include plant-based eating advocates like race car driver Lewis Hamilton, NBA star Chris Paul and Portman, as well as world-renowned chef and hunger advocate José Andrés and Timberlake, one of the top-selling singer-songwriters in pop music. 

Bowery will use the funds to continue expansion of its network of smart indoor farms across the U.S., to further accelerate its technological leadership, support ongoing research and product innovation efforts to bring crops beyond leafy greens to market, and recruit top talent to meet the explosive consumer and retail demand for its reliable supply of pesticide-free Protected Produce.

Bowery has secured more than $472 million in funding to date, underscoring its commercial and category leadership, and bringing its valuation to $2.3 billion. Now in over 850 grocery stores, Bowery has experienced more than 750% growth since January 2020 at brick-and-mortar retailers like Albertsons Companies (Safeway and Acme), Giant Food, Walmart and Whole Foods Market, and more than quadrupled e-commerce sales through e-commerce platforms, including Amazon Fresh.

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