GrowUp Farms, a UK-based vertical farming enterprise, has secured an additional £38 million in funding from Generate Capital to expand its operations.
This substantial investment will be used to boost the capacity of GrowUp’s existing Kent site and enhance its ability to meet the increasing demand for its sustainably grown produce.
The funding will also support the company's prominent brands, Unbeleafable and Fresh Leaf Co, which have gained popularity for their high-quality, fresh greens.
The relationship between GrowUp Farms and Generate Capital has been ongoing, with previous investments highlighting a strong commitment to sustainable agriculture.
In 2021, GrowUp Farms received an initial funding round, followed by a significant £100 million investment in 2022.
This latest round of funding underscores the confidence in GrowUp’s innovative approach to vertical farming and its potential to revolutionise the agricultural sector.
The company’s focus on reducing water usage and eliminating the need for pesticides aligns with broader environmental and health objectives.
Generate Capital CEO and co-founder Scott Jacobs said: “GrowUp is one of the UK’s most exciting and innovative vertical farming operations, experiencing nearly 800% sales increase year over year.
“Their ability to quickly earn the trust of the UK’s largest retailers shows the appeal of their product lines, the strength of their team, and their ability to meet rising consumer demand for healthy, locally grown food.”
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