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Plenty United Announces New Urban Farm

To get its initial warehouse up and running, plenty raised $26 million from high-profile names including funds that invest on behalf of Mr. Bezos, Amazon.com Inc’s chief executive, and Mr. Schmidt, Alphabet’s executive chairman. Investment firms including DCM Ventures and Finistere Ventures LLC also pitched in.

The urban farming movement is picking up momentum with big investors who recognize the importance of food in our future.

Mr. Barnard said Plenty can today produce more than 150 times as much lettuce per square foot a year as an outdoor farm, and with 1% of the water. He declined to specify expected prices for its products, but he said this year Plenty should be able to raise and market heirloom lettuces and herbs at the same cost as field grown versions.

Competition is tough in the lettuce market. That’s why Symbiotic Systems has developed industry leading technology enabling indoor growers to efficiently produce fruits, vegetables, and other high value crops.