What is Plenty?
Founded in 2014 and headquartered in San Francisco, California, Plenty is at the forefront of agricultural technology. The company's mission is to liberate farming from the constraints of weather, seasons, pests, and geographical limitations. By employing advanced vertical farming techniques, Plenty cultivates produce using less than one percent of the water and a fraction of the space required by conventional agriculture, all while ensuring zero pesticide usage. This approach positions Plenty as a key player in sustainable and efficient food production, addressing global challenges related to food security and environmental impact.
How much funding has Plenty raised?
Plenty has raised a total of $935M across 5 funding rounds:
Series A
$20M
Series B
$200M
Series C
$175M
Series D
$140M
Series E
$400M
Series A (2016): $20M, investors not publicly disclosed
Series B (2017): $200M led by Bezos Expeditions, Finistere, Data Collective, SoftBank Corp, Innovation Endeavors, and DCM Ventures
Series C (2019): $175M, investors not publicly disclosed
Series D (2020): $140M featuring Driscoll’s and Softbank Vision Fund 1
Series E (2022): $400M backed by One Madison Group, SoftBank Vision Fund 1, Walmart, and JS Capital Management
Key Investors in Plenty
Bezos Expeditions
Bezos Expeditions is an investment firm founded by Jeff Bezos that focuses on a diverse range of sectors including technology, healthcare, and space exploration. The firm is known for its strategic investments in innovative companies such as Airbnb, Uber, and Twitter. Its intended clients include startups and established businesses seeking funding and support for growth. Additionally, Bezos Expeditions is involved in philanthropic efforts through initiatives like the Bezos Day One Fund and the Bezos Family Foundation.
SoftBank Corp
SoftBank Group Corp. is a global technology holding company driving innovation across telecommunications, internet services, artificial intelligence, smart robotics, IoT, and clean energy technologies. Through its diverse portfolio of companies and strategic investments, including leading semiconductor IP providers, SoftBank Group supports the development and scaling of transformative technologies worldwide. The company leverages its global investment platforms, including the SoftBank Vision Fund, to identify and back businesses that have the potential to shape the next phase of the Information Revolution. With a focus on long-term growth, technological advancement, and industry leadership, SoftBank Group combines strategic capital, operational expertise, and a forward-looking vision to foster innovation and create lasting value across its global network of companies.
Walmart
Walmart Inc. engages in the operation of retail, wholesale, other units, and eCommerce worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites; and mobile commerce applications. The company offers grocery and consumables, including dairy, meat, bakery, deli, produce, dry, chilled or frozen packaged foods, alcoholic and nonalcoholic beverages, floral, snack foods, candy, other grocery items, health and beauty aids, paper goods, laundry and home care, baby care, pet supplies, and other consumable items; fuel, tobacco and other categories. It is also involved in the provision of health and wellness products covering pharmacy, optical and hearing services, and over-the-counter drugs and other medical products; and home and apparel including home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, seasonal items, mattresses and tire and battery centers. In addition, the company offers consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. Further, it operates digital payment platforms; and offers financial services and related products, including money transfers, bill payments, money orders, check cashing, prepaid access, co-branded credit cards, installment lending, and earned wage access. Additionally, the company markets lines of merchandise under private brands, including Allswell, Athletic Works, Equate, and Free Assembly.
What's next for Plenty?
With its latest major strategic investment, Plenty is poised to accelerate its expansion and further refine its proprietary farming technologies. The substantial capital infusion, totaling $935M, indicates a strong market validation and investor confidence in Plenty's vision. This funding will likely support the scaling of its operations, further research and development into advanced agricultural systems, and potentially the establishment of new farming facilities. The company's focus on pesticide-free, water-efficient, and space-saving cultivation methods positions it for significant growth in the rapidly evolving ag-tech sector.
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