PitchBook Data Show VC Backs Vertical Farming

Good morning readers, Venture capitalists backing up vertical farming, new partnerships, expansions in new markets, and much more!

Here is this week’s top 10 indoor vertical farming news!

Want to get notified of our latest publications? Simply subscribe here.

1- PitchBook Data Show VC Backs Vertical Farming

In an article published on June 6th by David Stevenson on PitchBook, Data shows that Venture capitalists throughout the world further their investment in the vertical farming industry as the sector has already totaled nearly USD 800 million in the first 5 months of 2022 compared to USD 1.2Bn throughout 2021. Though the figure is inflated by Plenty’s USD 400 Million Funding round, it does represent to a certain extent the interest Venture Capitalists have.

And, not just VCs but governments also further their investment as the U.S. Department of Agriculture (USDA) recently announced significant investments to support urban agriculture, including USD 43.1 million for grants and cooperative agreements. USDA is investing USD 10.2 million in new cooperative agreements to expand compost and food waste reduction efforts and USD 14.2 million in new grants to support the development of urban agriculture and innovative production projects. Additionally, $18.7 million will fund 75 worthy grant proposals from the 2021 application cycle, which was oversubscribed. The United Arab Emirates also furthers its investment in indoor farming technologies as, according to the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), two agreements have been awarded, the first (Valued at USD 71 million according to ME Construction News) being with Emirates Hydroponics Farms to build and operate a hydroponic farm for the production of vegetables, fruits, and mushrooms in controlled environments with a surface area of 325,000 sqm.

2- LettUs Grow & Vertically Urban Partner To Light Up Container Farms

LettUs Grow has partnered with a light provider, Vertically Urban, to use their ultra-slim Horti-Blade LED light in DROP & GROW container farms.

3- FSG & PANGEA Global Technologies Join Forces to Deliver CEA Customer Success

Facility Solutions Group (FSG) announced today a new product and service delivery partnership with?Los Angeles, California-based PANGEA Global Technologies (PGT).

4- Global Vertical Farming Show Set in July at Hotel Conrad Dubai

After the successful establishment of its 1st series of the Global Vertical Farming Show (Virtual Connect), its organizers TAB global are back with its 2nd edition—targetting the emerging industry of Vertical Farming, Indoor Farming and Controlled Environment Agriculture.

5- Signify Helps Kwekerij Loos Make The Switch To Full LED Lighting

Signify, the world leader in lighting, is set to provide Kwekerij Loos with 2.1 hectares of LED lighting this autumn.

This is a condensed version of our newsletter, subscribe here to receive the full version.