Plenty Unlimited has secured $140 million in a new round of investment to facilitate the development of additional vertical farms throughout the United States.

This latest funding round elevates the company's overall capital raised to a substantial $500 million. The investment was spearheaded by current investor SoftBank Vision Fund, with significant participation from Driscoll’s, a leading berry producer. This collaboration will allow Driscoll’s to utilize Plenty’s innovative technology for the indoor cultivation and harvesting of various fruits and vegetables.

The funding announcement follows recent agreements established by Plenty with both Driscoll’s and the Albertsons supermarket chain. The company also revealed its intentions to construct a new farming facility in Compton, California.

This financial injection provides ample resources for Plenty, a company operating within a rapidly growing and competitive market for technologically advanced crop production, which is attracting considerable private and public investment.

Recently, AppHarvest reached an agreement to become a publicly listed company through a special purpose acquisition company, resulting in an estimated valuation of nearly $1 billion for the greenhouse tomato grower. Simultaneously, Revol Greens, another company focused on leafy green production, has obtained $68 million in funding to further its greenhouse-based approach to participating in the evolving sustainable agriculture movement.

Concurrently, Plenty’s primary competitor, Bowery Farming, is broadening its retail presence to encompass 650 stores, while Plenty highlights its partnership with Albertsons to supply produce to 431 stores across California.

Driscoll’s expressed strong confidence in Plenty’s technological capabilities, though the specifics of their agreement remain confidential.

“After evaluating various vertical farming operations, we found Plenty’s technology to be among the most promising systems for berry cultivation,” stated J. Miles Reiter, Chairman and CEO of Driscoll’s. “Our involvement began with a collaborative development project focused on strawberry growth. We were highly impressed by their technology and subsequently decided to make an investment.”