Planet Farms is a Milan-based vertical farming operator that develops and operates large indoor farming facilities. The company announced a $40 million raise that brings its total capital raised to over $140 million and lifts its valuation to more than $500 million. A significant portion of the new capital will be used to finalise a new factory outside Milan, planned to be fully operational by the end of summer 2024 with a projected growth surface of 20,000 m². Another portion will fund construction of a North London factory described as “cutting edge” and expected to be operational in H2 2025; the company is also testing UK supermarket distribution. Planet Farms said it will invest in R&D to explore applications of its technology beyond food, specifically citing perfumery and cosmetics. No specific investors were cited for the recent round, though the company has historical backing from SACE, UniCredit Group and Red Circle Investment.

Total raised

$40M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2023