Strategic investments support vertical farming technology and fuel growth
HAMILTON, OHIO / ACCESS Newswire / February 10, 2025 / Today, 80 Acres Farms announced capital raises totaling $115 million and the acquisition of Plantae Biosciences, an Israeli biotechnology company.
"Our ability to raise capital in today's market speaks to the confidence investors have in the need for controlled environment agriculture and our vision and execution," said Mike Zelkind, CEO and co-founder of 80 Acres Farms. "New funding has allowed us to broaden our technology platform, grow our retail footprint, and develop an ingredients channel, all to meet customer needs. We're able to make plans for the long term while delivering results today."
The company's capital raises in 2024 were supported by a combination of new and existing investors, including General Atlantic, Siemens Financial Services, The Western and Southern Life Insurance Company, Barclays Climate Ventures, Virgo Investment Group, Blue Earth Capital, and other leading Midwestern financial institutions.
The acquisition of Plantae Biosciences brings innovative plant breeding technology to 80 Acres Farms and its technology-focused subsidiary, Infinite Acres. Since 2020, Plantae has collaborated with the Weizmann Institute of Science, a world-renowned research institution, on projects in accelerated plant breeding, via an exclusive license agreement with the Institute's commercialization arm, Yeda Research and Development Co. Ltd. The world-class researchers who built Plantae are now operating as Infinite Acres Israel.
"Our researchers have found the natural mechanisms that allow us to accelerate plant evolution, in harmony with nature, for better harvests," said Professor Avraham Levy, a member of the Department of Plant and Environmental Sciences and the head of the Food Security and Nutrition Center at the Weizmann Institute of Science. "Combining advances in genetics with precision farming systems that offer unprecedented environmental control, we have the makings of another green revolution that will provide resilience to climate change."
"Crops tailored for controlled environment agriculture can be a major unlock for the industry," said Tisha Livingston, CEO of Infinite Acres and co-founder of 80 Acres Farms. "Using advanced plant breeding technology, we can begin to truly differentiate produce by optimizing for flavor, texture, and nutrition, unlike anything available in the marketplace today."
2024 was a transformative year for 80 Acres Farms, marked by continued innovation and growth. Earlier in the year, the company?announced the acquisition of Mother Raw, the dressing supplier for its popular salad kits, and?the opening of a first-of-its-kind vertical farming Field Lab in The Hague, with technology partners Siemens, SICK Sensors, Signify, and TTA. While investing in growth, the company has remained focused on execution, resulting in a 60% revenue CAGR over the last three years.
About 80 Acres Farms
80 Acres Farms is a vertical farming leader based in Hamilton, Ohio. Founded by Mike Zelkind and Tisha Livingston in 2015, the company operates indoor farms built with world-class technology and analytics by its Dutch-Israeli-American subsidiary, Infinite Acres. Using 100% renewable electricity and 95% less water per pound of produce, the company's farms deliver pesticide-free, longer-lasting harvests while reducing food waste. 80 Acres Farms' branded salads, salad kits, herbs, microgreens, and tomatoes are available at over 1,500 retailers and restaurants across the eastern United States.
Contact Information
Jed Portman
Senior Manager, Public Affairs
jed.portman@eafarms.com
8434122863
SOURCE: 80 Acres Farms
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