Bowery Farming raises $300m, plans to introduce tomatoes, root vegetables, and strawberries to market

The round was led by Fidelity Management & Research Company LLC with significant follow-on investment from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek, Groupe Artémis (Pinault-owned), as well as new participation from Amplo and Gaingels, a fund representing the LGBTQ community and allies. 

Individual celebrity investors and plant-based eating advocates, Lewis Hamilton, Chris Paul, and Natalie Portman, as well as chef and hunger advocate José Andrés and singer-songwriter Justin Timberlake, also participated in the funding round. 

The company is now valued at $2.3bn, estimates Fidelity Management & Research Company.

“This infusion of new capital from Fidelity, other new investors, and the additional support of our long-term investor partners is acknowledgement of the critical need for new solutions to our current agricultural system, and the enormous economic opportunity that comes with supporting our mission,” ​said Irving Fain, CEO and founder of Bowery Farming.  

“This funding not only fuels our continued expansion but the ongoing development of our proprietary technology, which sits at the core of our business and our ability to rapidly and efficiently scale towards an increasingly important opportunity in front of us.”​ 

Bowery has registered more than 750% retail growth since January 2020 and is now stocked in over 850 grocery stores including Albertsons Companies (Safeway and Acme), Giant Food, Walmart and Whole Foods Market, and has more than quadrupled e-commerce sales through e-commerce platforms, including Amazon Fresh.

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