Vertical Farm Start-Up Plenty Raises $200m

Plenty, a San Francisco vertical farming start-up, has raised $200m (£154m) from big-name investors that include Japanese media giant SoftBank, Alphabet's Eric Schmidt and Amazon boss Jeff Bezos.

Plenty said it would use the money to expand in the US and abroad.

The firm, founded in 2013, has an indoor growing system that uses less space and water than traditional farms.

It plans to bring its first self-grown food to market this fall.

"We're now ready to build out our farm network and serve communities around the globe," said Matt Barnard, chief executive and co-founder.

Plenty employs 100 people in three facilities in San Francisco and Wyoming. It has raised more than $226m since its start.

Mr Barnard said the firm has already signed up online and bricks-and-mortar distributors for the food, which will initially be dominated by leafy vegetables and herbs.

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