🌱 Vertical farming project Plenty, which raised around $1 billion, just filed for bankruptcy, according to TechCrunch

🌱 Vertical farming project Plenty, which raised around $1 billion, just filed for bankruptcy, according to TechCrunch. They had big names like Softbank, Walmart, and Jeff Bezos backing them. Looks like vertical farms are hitting some serious turbulence! In 2023 alone, Infarm shut down despite $500M in investments, and both AeroFarms ($300M) and AppHarvest ($700M and later an IPO) also filed for bankruptcy. Oh, and if you missed it—recently I posted about Oracle's Larry Ellison diving into agri-business… spoiler alert: not going great! 🤦‍♂️💸 #AgriBusiness #VerticalFarming