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Indoor farming startup Bowery announced today it has raised an additional $50M in an extension of its Series B round. This comes just nearly 11 months after it raised $90 million in a Series B round that we reported on at the time.
In a written statement, Bowery said the add-on was the result “of significant momentum in the business.” Temasek led the extension and Henry Kravis, co-founder of Kohlberg Kravis Roberts & Co., also put money in the “B+ round.” The financing brings the New York-based company’s total raised to $172.5 million since its inception in 2015, according to Bowery.
The startup, which aims to grow “sustainably grown produce,” also announced today its new indoor farm in the Baltimore-DC area. The new farm is 3.5 times larger than Bowery’s last facility, according to the company. Its network of farms “essentially communicate using Bowery’s software.” according to the company, and benefits from the collective intelligence of 2+ years of data.”
Energy and Food for everyone on Earth are the foundational blocks of Mankind's fate and the greatest challenges of these times. Solving both will enable everything else and save what's left of us.