Plant lighting ushered in investment, Bowery Farming announced $20 million financing

Recently, Bowery Farming announced that it has raised $20 million from a group of investors to build a “post-organic” vertical farm. The company's investors include GGV Jiyuan Capital, General Catalyst, and GV (formerly Google Ventures).

Bowery's first farm is located in a warehouse in Kani Township, New Jersey. The company's indoor planting relies on proprietary computer software, LED lighting and robotics to grow pest-free green leafy vegetables, saving 95% compared to traditional agriculture. Water.

“We believe that indoor agriculture is welcoming a turning point,” said Hans Tung, managing partner of GGV Jiyuan Capital. “Indoor planting is no longer an unrealistic theory. In the next five years, it will likely achieve massive growth. ."

The company has tried to plant hundreds of different crops in Kani's warehouse farms, and currently sells six kinds of green leafy plants such as lettuce and tender kale to Whole Foods and Foragers. The price is equivalent to that of organic vegetables, 5 ounces. Vegetables are $3.99.

Bowery is not the only company that is trying to develop large-scale vertical agriculture. Its competitors include AeroFarmers and Plenty United, which are also able to grow millions of pounds of green leafy vegetables indoors. AeroFarms has raised more than $100 million for its indoor farms, while Plenty United has received financial support from billionaires Jeff Bezos and Eric Schmidt.

“There has been a fundamental change in the field of LED lighting,” Bowery Farming Fain said. “The cost of fixtures has fallen by more than 85%, and the performance of the unit has doubled, so it’s only possible in the laboratory to do things under laboratory conditions. It becomes feasible. Without this trend, people can't do it all."

After receiving new financing, Fain said Bowery plans to hire more employees (it currently has only 12 employees) to meet the needs of new farms (first build a farm in the Sanzhou area and then build more around the rest of the US) Multi-farm), planting species will increase from green leafy vegetables to other plants that can be grown indoors.

From a longer-term perspective, larger opportunities may be further away in China and other emerging markets, where populations are large and food security is a hot issue. Tong Shihao said: "The scale of indoor agriculture will expand beyond the United States and expand into emerging markets. Indoor agriculture is definitely in demand."

In February 2017, Bowery Farming has received a total of $7.5 million in venture capital investments. This round of funding was led by First Round Capital, with Box Group, Lerer Hippeau Ventures and Chef Tom Colicchio participating.

Bowery makes a profit by selling green leafy vegetables such as kale, lettuce, and spinach to restaurants and grocery stores. According to the company, high-tech indoor planting can achieve green leafy vegetables throughout the year, yielding 100 times more than the traditional outdoor planting of the same area, and using 95% less water.

Bowery uses computer vision technology and other sensors to monitor the condition of the plant and room temperature, collecting millions of real-time data points about the variables that affect the plant, and then analyzing the growth rate of the plant. factor.

In recent years, the financing activity in the field of plant lighting has been increasing.

In May 2017, OSRAM acquired a portion of the startup's Agrilution through its venture capital division Fluxunit. Agrilution is located in Munich, Germany, and its plant automated vegetable plant project, the plantCube, is recognized.

Users only need one plantCube intelligent indoor incubator to grow vegetables and flowers at home. The plantCube box is equipped with specially optimized LED technology and other innovative means to ensure a bumper harvest for users without any planting experience.

In horticultural applications, OSRAM designs and develops lighting solutions for plant cultivation in greenhouses or indoor spaces that promote and manage plant growth. This special LED lighting technology is also applied to the plantCube smart home appliance developed by Agrilution.

The technology can independently identify the seeds planted in the box, and provide the optimal growth environment for the plants by automatically adjusting the temperature, watering and lighting conditions, so that users can freely plant flowers and vegetables without being affected by weather and climate.

In July 2016, Zhai Geng Technology announced that it had completed a round of equity crowdfunding at Noah Wealth, which was led by A-round investor Gobi Ventures. The amount is unknown. This round of funding is used to expand product lines, plant supply chains and overseas markets. The company's profit model is a repeat purchase of hardware + plant supplies. iGrow Zhai Geng Technology said its total sales have exceeded 30 million yuan. An agency contract has been signed with partners in 14 countries for export business.

Zhai Geng Technology was established at the end of 2014. The representative products are two new automatic green planting hardware – “plant eggs” and “home machines”. Among them, “plant egg” is a green plant growth machine for children, and the household machine is an adult-oriented product called a fully automatic plant growth machine.

These two machines automatically control the light supply + automatically control the nutrient solution and water supply to achieve fool planting. There are currently more than 30 varieties to be adapted, including vegetables, flowers, fruits, and Chinese herbal medicines. Previously, co-founder Li Zuyu once told 36 æ°ª that the iGrow automatic growth machine adopts the method of aerosol cultivation, which is more than twice as fast as soil cultivation and is essentially different from ordinary soilless cultivation methods. Seeds, seedlings, and cuttings can be used to achieve indoor cultivation without climate restrictions.

In August 2016, a medical marijuana technology startup, Leaf, entered the field of vision and announced that it has raised $2 million in seed round financing. The leading investor is CJV Capital, a well-known venture capitalist, including Phyto Partners and Advanced. Nutrients, as well as angel investors Michael Cohn, Ben Biron and Gregg Weiss.

While releasing the latest round of financing information, Leaf also introduced a new version of the Leaf Plant Growth System: a fully automated device that allows consumers who have no growing experience to grow medical marijuana in their own home.

In fact, the Leaf product is a miniature refrigerator that is 24 inches long, 24 inches wide and 60 inches high. However, the device is powerful, it supports precise temperature and humidity control, and automatically adds botanical nutrients and sets the drying mode - all controls can be operated via a smartphone app, while Leaf also Produced a set of instructional videos to help “Little White” learn how to grow medical marijuana.

Not only that, the Leaf mini-refrigerator is equipped with anti-odor carbon fiber, which can effectively reduce or even eliminate odor. In addition, the device is equipped with a BIOS LED light and a water circulation system that supports automatic water change.


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