Key Takeaways
- 80 Acres Farms raised $115 million in 2024, supported by both new and existing investors.
- Investors include General Atlantic, Siemens Financial Services, Barclays Climate Ventures, and Blue Earth Capital.
- Acquired Plantae Biosciences, an Israeli biotechnology company focused on accelerated plant breeding.
- Plantae’s researchers now operate under Infinite Acres Israel, collaborating with the Weizmann Institute of Science.
- The company continues expanding its technology platform and retail presence, alongside its recent acquisition of Mother Raw and the launch of a vertical farming Field Lab in The Hague.
Strategic Investment and Expansion For 80 Acres Farms
80 Acres Farms announced a total capital raise of $115 million, reinforcing investor confidence in controlled environment agriculture (CEA) and the company’s long-term vision and execution strategy.
“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,” – Mike Zelkind, CEO and Co-Founder, 80 Acres Farms
The funding will be used to expand 80 Acres Farms’ technology platform, strengthen its retail footprint, and develop an ingredients channel, allowing for continued innovation in indoor-grown produce and sustainable food solutions.
Investors in the 2024 capital raise include:
- General Atlantic
- Siemens Financial Services
- The Western and Southern Life Insurance Company
- Barclays Climate Ventures
- Virgo Investment Group
- Blue Earth Capital
- Other leading Midwestern financial institutions
Acquisition of Plantae Biosciences
As part of its strategic expansion, 80 Acres Farms acquired Plantae Biosciences, an Israeli biotechnology firm specializing in advanced plant breeding technologies. The acquisition aims to enhance crop genetics for controlled environment agriculture (CEA), improving traits such as flavor, texture, and nutritional content.
Since 2020, Plantae has collaborated with the Weizmann Institute of Science, a globally recognized research institution, under an exclusive license agreement with Yeda Research and Development Co. Ltd.
“Our researchers have found the natural mechanisms that allow us to accelerate plant evolution, in harmony with nature, for better harvests,” – Professor Avraham Levy, Weizmann Institute of Science
Following the acquisition, Plantae Biosciences’ research team will operate as Infinite Acres Israel, a subsidiary of Infinite Acres, the technology arm of 80 Acres Farms.
“Crops tailored for controlled environment agriculture can be a major unlock for the industry. Using advanced plant breeding technology, we can truly differentiate produce by optimizing for flavor, texture, and nutrition,” – Tisha Livingston, CEO, Infinite Acres and Co-Founder, 80 Acres Farms
Continued Growth and Innovation for 80 Acres Farms
The acquisition aligns with 80 Acres Farms’ broader expansion strategy, which has included:
- The acquisition of Mother Raw, a supplier for its salad kits.
- The launch of a first-of-its-kind vertical farming Field Lab in The Hague, in partnership with Siemens, SICK Sensors, Signify, and TTA.
Despite investing heavily in growth and innovation, the company has maintained a strong financial trajectory, achieving a 60% compound annual revenue growth rate (CAGR) over the last three years.
With new capital, strategic acquisitions, and continued technological advancements, the company aims to scale its operations and further establish its leadership in the CEA sector.
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