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Agtech unicorn Bowery Farming is close down , according toPitchBook , which cited inner documents and multiple caller employees .
The New York - based agtech fellowship was known for building perpendicular farms that could develop crops , including lettuces , herb , and berries . Per Pitchbook , Bowery Farming has raised more than $ 700 million in funding from First Round Capital , General Catalyst , and GV , among many other venture firm . Its most late round in 2021 valued it at more than $ 2 billion .
PitchBookpreviously reportedthat Bowery Farming hold multiple round of layoffs in 2023 .
Vertical agriculture has proved to be a tough category , with both AeroFarms and AppHarvest filing for failure protection . AeroFarms raised more than $ 300 million from angel before filing for failure . In September 2023 , itexited failure protectionfully fund . AppHarvestraised more than $ 700 million before being use up public in 2021 at a $ 1 billion valuation ; it filed for Chapter 11 protection in 2023 .
TechCrunch has get through out for more entropy .
