Bowery operates indoor vertical farms producing packaged leafy greens and herbs sold into retail and online channels. The company says its products are in over 850 stores and reports a 750% boost in retail growth since January 2020, plus a 400% jump in e-commerce sales. Bowery is expanding its Bethlehem, Pennsylvania site into a larger high-tech farm and plans to break ground on additional large-scale commercial farms during 2021. It has an active R&D program to add crop varieties and says it is growing fruiting crops such as tomatoes, cucumbers, peppers, root vegetables and tubers alongside leafy greens. Founder and CEO Irving Fain has cited the Series C as funding to accelerate innovation and commercialization of broader crop categories. Bowery, launched in 2015 and based in New York, operates indoor farms that combine software and sensors to grow herbs and leafy greens in controlled environments. The company uses a fraction of the water required by conventional agriculture and grows without pesticides. Its product line includes arugula, butterhead lettuce, romaine, bok choy, basil, and mixes (spring blend, kale mix, sweet and spicy mix), and it plans to add mustard greens, wasabi arugula, and Thai basil. Bowery sells produce through Whole Foods stores in New York and regional grocers and intends to partner with large national grocers as it expands. The company opened an indoor farm in Kearny, New Jersey; the new farm produced 30 times more compared to its first farm. Bowery plans to build multiple farms close to points of consumption to deliver produce shortly after harvest and will use new funding to support hires and additional technology investments on its farms. Bowery operates a vertically stacked indoor farm in New Jersey that combines LED lighting, hydroponics, and a proprietary farm operating system (FarmOS) to monitor and tend crops. The FarmOS aggregates data from sensors and cameras, uses computer vision to detect plant changes, and applies machine learning to correlate variables like humidity, temperature and light with flavor and plant health. Bowery grows baby kale, basil, Bowery blend, Bowery kale mix, arugula and butterhead lettuce without pesticides or agrichemicals and emphasizes controlling flavor profiles. The company is vertically integrated from seed to store to ensure product quality and to build a branded product line. Bowery has celebrity chef Tom Colicchio as an angel investor and supplier to two of his restaurants, and plans to target retailers and restaurants, with produce slated for Whole Foods and Foragers in the New York tristate area. Financially, Bowery raised $7.5 million in angel and seed funding to launch and scale its operations.

Total raised

$398M

Funding rounds

3

Latest round

Series C

Latest activity

May 2021