Spread operates automated vertical farms and is best known for large-scale indoor lettuce production and its store brand Vegetus. The company opened its first farm in 2007 and has claimed to be the first in the space to achieve profitability six years later. Spread has focused on lowering costs to compete on grocery shelves while leveraging the advantages of vertical farming such as reduced water and land use and no pesticides. It has a 2030 production goal of 100 tons of lettuce per day domestically and is positioning to widen its product range. The company is developing vertically grown strawberries and says alternative meat is on its roadmap. Further technology acceleration, marketing of Vegetus, and expansion plans prompted a fresh capital raise to level up its offerings.

Total raised

$30M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2022