Vertical Agriculture Company Plenty has presented by bankruptcyThe company said in a press release on Monday.
In your statement, Plenty He said he has received a commitment for $ 20.7 million in debtor financing in possession as part of a proposed restructuring plan. He plans to continue operating a strawberry farm in Virginia and a research science research and development center (R&D) in Wyoming.
The financing of the debtor in possession is financing for companies in the bankruptcy of Chapter 11.
Since its start of 2014, Plennty, based in South San Francisco, has raised almost $ 1 billion in funds from a variety of investors, including softbank investigen Advisers, Walmart, Bezos Expeditions and Jeff Bezos as an investor Ángel.
His last known assessment was $ 1.9 billion at the time of A series of E $ 400 million E series In January 2022, according to Pitchbook.
The industry has been affected by bankruptcies in recent years. In November 2024, it was reported that Agtech Unicorn Bowery Farming would go out after raising more than $ 700 million in funds and for the last time at $ 2 billion in 2021. and in 2023, Aerofarms and APPHHARVEST declared themselves in bankruptcy. Aerofarms had raised more than $ 300 million from sponsors before declaring in bankruptcy. In September 2023, Output bankruptcy protection Fully financed.
Approvecha He raised more than $ 700 million before being public in 2021 with an assessment of $ 1 billion; He presented the protection of Chapter 11 in 2023.
