Key Takeaways
- Farm.One, a New York City-based vertical farm, has secured an investor after an unsuccessful crowdfunding campaign in early 2022.
- The company had shifted from serving high-end restaurants to a subscription-based model delivering greens and specialty crops during the pandemic.
- Operations had been paused due to funding challenges, but the company plans to resume production and expand its facility.
- First harvests from the Bergen Street farm are expected in early 2023.
- Farm.One is recruiting for new roles, including a Sales Director, to support its next phase of growth.
Securing a New Investor
Farm.One, known for producing locally grown greens through vertical farming, has announced a new investment to relaunch its operations. This follows a challenging period marked by funding difficulties and temporary farm closures.
Funding Challenges
- Initially focused on supplying restaurants, Farm.One pivoted to a subscription model during the pandemic to adapt to market changes.
- Despite this shift, funding shortages led to the closure of its farms in 2022.
Leadership Transition
As part of the company’s restructuring, Rob Laing stepped down as CEO. The leadership change aligns with Farm.One’s efforts to stabilize and pursue its next phase of growth under new investment.
Revival Through Investment
The newly secured funding will support:
- Repairs and upgrades to the company’s Bergen Street facility.
- Expanding production capacity to meet growing customer demand.
Plans for 2023
Farm.One has outlined its immediate priorities:
- Resuming Harvests: The first crops from the Bergen Street farm are expected in early 2023.
- Team Expansion: The company plans to rehire staff and is actively seeking new team members, including a Sales Director.
Acknowledging Support
Farm.One has expressed gratitude to collaborators and supporters during its transition, highlighting the contributions of partners and the broader community.
Looking Forward
With its new investment, Farm.One aims to reestablish operations and focus on delivering locally grown produce to New York City residents. The company’s return marks an important step in its efforts to scale urban farming sustainably.
