Participated · Series E · Sep 2022

Gotham Greens is a New York-based company that operates climate-controlled greenhouses to grow fresh produce near urban centers. Its core product is greenhouse-grown fresh produce distributed to retailers and positioned to reach consumers within a day's drive of its facilities. The company plans national expansion, accelerating development of three new greenhouses in Seagoville, Texas; Monroe, Georgia; and Windsor, Colorado, plus building out sites in Chicago and Providence and procuring future locations. Gotham Greens expects to operate 13 farms by next year totaling about 40 acres and recently acquired the 540,000-square-foot FresH2O Growers facility in Virginia. Operational claims include using roughly 95% less water than conventional growing and pursuing decentralization to reduce shipping-related carbon footprint. Financially, the company has raised a total of $440 million since its 2009 launch. Gotham Greens operates one of North America’s largest networks of high-tech, climate-controlled hydroponic greenhouses that produce long-lasting leafy greens, herbs and a line of salad dressings, sauces and packaged salads. The company has expanded capacity over the past year with new greenhouses in Chicago, Providence, Baltimore and Denver and doubled overall capacity. Gotham Greens has doubled revenue in the past year and reported 80% year‑over‑year growth in retail unit sales, with products sold in more than 2,000 retail stores and distributed to retailers in over 40 U.S. states. The brand recently launched new plant-forward packaged salads, cooking sauces and grab-and-go salad bowls. Management has emphasized expanding regional growing operations and distribution capabilities to address challenges in centralized food supply chains. The company says its industry-leading crop yields and capital efficiency continue to attract support from new and existing investors. Gotham Greens highlights a track record of profitable, commercial-scale production in statements accompanying the raise. Gotham Greens operates technologically advanced, climate-controlled urban greenhouses that produce hydroponic leafy greens for retailers and food service providers. The company emphasizes year-round supply chain reliability, transparency, and traceability and employs data science and machine learning in its operations. Gotham Greens owns and operates four production-scale facilities in New York City and Chicago totaling 170,000 square feet, with another 500,000 square feet under development across five states. Founded in 2009 and led by co-founder and CEO Viraj Puri, the company has grown from a single rooftop greenhouse to one of North America’s largest hydroponic leafy greens producers. It currently employs over 150 full-time team members. The company is expanding distribution, growing its team, and investing in R&D for controlled-environment food production techniques.