Future Crops Nabs Tencent Investment As Vertical Farming Sector Grows

By Chris Metinko, senior reporter for Crunchbase News

Vertical farming seems to have taken root in the heart of investors—with Netherlands-based Future Crops being the latest agtech company to cash in.

In January, South San Francisco, California-based farming startup Plenty sprouted a $400 million Series E led by new investors One Madison Group and JS Capital. The round also included participation from strategic partner Walmart and existing investor SoftBank Vision Fund 1. Founded in 2014, the company has raised $940 million to date, according to Crunchbase data.

That was followed in February by Florida-based vertical ag company Kalera announcing plans to go public on the Nasdaq through a merger with a SPAC. The deal is slated to close at the end of April.

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