US-based urban farming startup Bowery has received $20m in series A funding from investors including GV, a corporate venturing subsidiary of internet technology group Alphabet.
VC firms General Catalyst and GGV Capital co-led the round, which included “a number” of the participants in the $7.5m seed round Bowery closed in February this year. First Round Capital led the seed round, which also featured BoxGroup, Lerer Hippeau Ventures and chef Tom Colicchio.
Bowery grows vegetables indoors, in urban areas that mean its produce can be delivered quickly to local restaurants or shops. The plants are grown in a controlled environment without pesticides in vertical rows to save space and water.
The company also utilises software that gives it information on how the plants are doing and how much light, water and nutrients they need.
The series A funds will be used for hiring, technology development and expansion. Bowery already operates a farm just outside New York City and plans to soon open a second location in the same state.
– Photo courtesy of Bowery, Inc.