The Venture Codex

Led · Equity · Oct 2024

CubicAcres is a Long Island–based vertical farming company focused on year-round lettuce production. It completed a $3.7 million funding round in partnership with Intelligent Growth Solutions to expand production capacity. The funds are earmarked to facilitate a tenfold increase in production and to build a fully automated vertical farming facility on Long Island. That facility is slated to yield one million heads of lettuce annually and is described as capable of producing about three million heads annually from an 11,000-square-foot production space. CEO Ryan McGann said the partnership will bring cutting-edge vertical farming technology to meet demand in the Long Island and New York City markets and blend vertical with traditional farming methods. Intelligent Growth Solutions noted it launched its U.S. headquarters in November, has grown its regional deployment and operations team to 15, and supports CubicAcres with its more than 200-strong global team.