Participated · Series C · May 2021

Founded in 2015, Bowery Farming operates indoor vertical farms that rely on the company’s proprietary Bowery OS to monitor crops with sensors and computer-vision systems, adjusting light, water, and nutrients for optimal growth. The closed-loop system cuts water usage by 95 percent and eliminates the need for pesticides while enabling the cultivation of more than 100 crop varieties, including kale, basil, arugula, and lettuce. Produce is currently sold through two Whole Foods locations, one Foragers store in the Tri-state area, and to restaurateur Tom Colicchio. Packaged greens retail from $3.49, keeping Bowery within the standard premium-salad price range. The company runs one commercial farm near Kearny, New Jersey and is building a second facility as it scales operations across the United States. Bowery’s 12-person team will expand as it applies the newly raised capital toward technology development and additional farm build-outs. Including the latest financing, the startup has attracted $27.5 million in total funding to date.

Participated · Series C · May 2021

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.

Participated · Series D · Mar 2019

1stdibs operates an online marketplace that connects dealers and sellers of antiques, vintage furniture, jewelry and other high-end goods with buyers. The company reports an average of 50 items selling for more than $5,000 daily, including about 15 items that sell for more than $10,000. It has a New York location in the Terminal Stores building and the CEO has indicated the new funding may be used to open additional brick-and-mortar showrooms. The platform has faced pushback from some dealers after it tightened enforcement of commissions, but dealers have largely stayed on the site. 1stdibs has raised $170 million in total funding to date and now says it is valued at well over $500 million. Competition includes other venture-backed marketplaces such as The RealReal and Chairish. 1stdibs operates an online luxury marketplace connecting affluent buyers with an exclusive network of dealers offering antiques, design, estate jewelry, vintage couture, fine art and luxury properties. The company was founded in 2001 and is based in New York City, with an office in the United Kingdom. It serves inventory offered through about 1,700 dealers. 1stdibs plans to use new funding for international expansion, marketing, and adoption of new technology. The company intends to unveil an innovative redesign of its site to enhance the buying experience. Recently it raised capital in a Series B round, reflecting continued investment in growth and product development. 1stdibs is an online luxury marketplace based in New York City offering high-end antiques, 20th century design, estate jewelry and vintage couture, featuring over 1,200 dealers. Founded in 2001 by Michael Bruno, the platform aggregates luxury goods from specialist dealers. The company received an investment from Benchmark Capital and appointed David Rosenblatt as CEO. In conjunction with the funding, Matt Cohler, a Benchmark general partner, and Rosenblatt will join the company’s board of directors. 1stdibs intends to use the capital to expand in the U.S. and abroad, to move into new product areas including the luxury homes market, and to make key hires to build out its executive team and other functions. It also plans to grow traffic and develop new tools for existing customers.

Led · Equity · Jan 2018

SpeachMe builds video-based communication and learning tools for companies and employees. Its solutions produce video tutorials and internal learning content, and its customers include Airbus and Blablacar. The Nantes company opened a US office in Austin in 2015 and plans further international expansion, including a new Los Angeles office. It will hire 70 new people across the company this year, according to a spokesperson. Financially, SpeachMe raised €10 million from Groupe Artémis’ Red River West in the current round and previously raised €2.2 million from Alven Capital in 2016. The company competes with US learning-platform startups such as Grovo. Speachme offers a micro-learning, peer-to-peer platform that lets employees and contractors create short multimedia "knowledge capsules"—video, audio, screencast and slides—to capture and transfer technical and physical skills. The platform emphasizes a trainer’s-eye point of view, rich-media mixing, and a dashboard for monitoring reach and effectiveness. It targets companies with large or distributed workforces—manufacturing, automotive, airline and food service—where many workers (10,000 or more) require just-in-time training. Speachme was started in France two years ago and has over 500,000 users across three continents, with clients including Tesla, Airbus, Coca‑Cola, PwC, Schneider Electric, Nissan and General Electric. The company recently launched U.S. operations in Austin, Texas, is actively recruiting local team members, and says its solutions are immediately available in the U.S. Speachme secured $2.2 million in new funding to support the U.S. expansion.