Bowery city farm project raises more than $20 million

26.06.2017 Bowery city farm project raises more than $20 million

Bowery startup has completed the first round of financing and raised $20 million for developing its own city farm network.

Investors included such venture companies as General Catalyst and GGV Capital (involving Google Ventures). As the result, the sum of investments reached $27.5 million. Money will be used for the development of Bowery city farms. The company will be able to build more rooms, hire more employees, and grow new croppers.

Bowery city farm project raises more than $20 million

Bowery is a New York-based startup, developing agriculture within the city. The team grows vegetables and green in the huge warehouse. Boxes with nutrient liquid are placed vertically and does not contain soil; everything grow using the hydroponic system. LEDs imitate the sun light at such a farm and special sensors monitor plant growth.

According to Irving Fain, co-founder of Bowery, this system allows to cultivate hundred times more plants per square foot than the conventional farm.

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