Vertical farming company Plenty files for bankruptcy after raising nearly $1B

Vertical farming agency Abundant There is BankruptThe company said in a press release on Monday.

In the statement, Abundant It was said that it has received a promise for $ 20.7 million in possession-in-occupied financing as part of the proposed restructuring plan. It plans to operate a strawberry firm in Virginia and a plant science research and development (R&D) center in WiMing.

DEB Breakfoot-In-Pursuit Financing Chapter 11 is funding for agencies within bankruptcy.

Since the inauguration of 20, South San Francisco-based softbank investment advisers, Walmart, Bezos Expedition and Jeff Bezos have personally raised $ 1 billion from various investors as angel investors.

Its latest familiar assessment was $ 1.9 billion Time A Fund of a Series in a 400 million dollar In January 2022, according to the pitchbook.

This industry has become bankrupt in recent years. In November 2024, Agtech Unicorn Bawwari Firming was reported Being closed Funding was fixed at $ 2 billion in 2021 after the funding of more than 700 million funds. Aerophorms collected more than $ 300 million from backs before file for bankruptcy. In September 2023, it Come out of the bankruptcy Completely funded.

Apertvest Raising more than $ 700 million before publicizing $ 1 billion in 2021; It filed in 2023 for the Chapter 11 to protect.