Bowery Farming Valuation, Funding & Investors
Bowery Farming is valued at $2.3B as of February 2022.
Last Bowery Farming valuation
$2.3B
Series A · Feb 2022
Last Bowery Farming funding round
$8M
Series A · Feb 2022
Cumulative funding Bowery Farming raised
$476M
across 6 funding rounds
Key investors in Bowery Farming
First Round Capital
General Catalyst
GV
Temasek
Notable Capital
Flybridge
About Bowery Farming
Bowery Farming is a New York City-based vertical farming company founded in 2015 that operates indoor facilities in New York, Pennsylvania, Maryland, and Kentucky. The company grows pesticide-free leafy greens, herbs, strawberries, and microgreens using its proprietary BoweryOS platform, which integrates computer vision, automation, and machine learning for continuous plant monitoring. These farms achieve 95 percent less water usage and over 100 times the productivity per square foot compared to traditional field farming. Bowery produce reaches consumers through Whole Foods Market locations across the Northeast, select Foragers Market stores in the New York area, and menus at Tom Colicchio's Craft and Fowler & Wells restaurants in Manhattan.
Founded
2015
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$2.3B (Feb 2022)
Bowery Farming Valuation
Bowery Farming is currently valued at $2.3B, based on its Series A in February 2022.
Bowery Farming's valuation has moved from $2.3B at its Series C in May 2021 to $2.3B in February 2022, across 2 priced rounds.
Bowery Farming valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series A | $2.3B |
| May 2021 | Series C | $2.3B |
Bowery Farming Funding History
Bowery Farming has raised a total of $476M across 6 funding rounds.
Bowery Farming's first fundraising round was a $8M seed round in February 2017. The most recent completed round was a $8M Series A in February 2022.
Bowery Farming funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series A | - | $8M | $2.3B | Bowery Farming, the largest vertical farming company in the U.S., raised $300 million in a funding round valuing the firm at $2.3 billion. The round was led by Fidelity Management & Research Company, with participation from GV (Google's investment arm), Justin Timberlake, and Natalie Portman. The company sells products in over 850 stores including Albertsons' Safeway, Acme, Walmart, and Whole Foods Market. Proceeds will fund construction of additional smart indoor farms, staff recruitment, and research for product innovation beyond leafy greens, kale, and basil. This positions Bowery to expand into crops like strawberries and tomatoes while investing in technology amid high operational costs. The funding reflects strong investor confidence in vertical farming's potential to address agricultural challenges. In the competitive indoor farming sector, peers like AppHarvest reached over $1.5 billion valuation post-SPAC, while AeroFarms targeted $1.2 billion via SPAC. |
| May 2021 | Series C | Fidelity (lead) | $300M | $2.3B | Bowery Farming, the largest vertical farming company in the United States, secured $300 million in Series C funding on May 25, 2021, led by Fidelity Management & Research Company LLC, with participation from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek, and Groupe Artémis, as well as new investors Amplo and Gaingels. The round brought total funding to over $472 million and valued the company at $2.3 billion post-money. Funds will support building additional smart indoor farms, hiring staff, and advancing research into product innovation beyond leafy greens, kale, and basil. Bowery Farming operates indoor vertical farms using proprietary technology to grow fresh produce with a simpler, safer, and more sustainable supply chain. By the time of the funding announcement, its products were available in over 850 grocery stores, including Albertsons Companies (Safeway and Acme), Giant Food, Walmart, and Whole Foods Market. The company reported more than 750% growth in brick-and-mortar retail availability since January 2020 and over quadrupled e-commerce sales via platforms like Amazon Fresh. CEO Irving Fain highlighted the investment as validation of the need for innovative agricultural solutions amid economic opportunities in sustainable farming. Bowery was actively expanding, transforming an industrial site in Bethlehem, Pennsylvania, into its largest farm and planning additional large-scale commercial farms in 2021 with potential global reach. The sector saw significant investor interest, with nearly $1.9 billion in global VC for indoor farming in 2020, nearly tripling from 2019. |
| Nov 2019 | Series B | Temasek (lead); Henry Kravis | $50M | - | Bowery Farming is the largest vertical farming company in the United States, founded in 2015 by Irving Fain. The company operates indoor farms that use approximately 95% less water than traditional agriculture and yield 100 times more produce per unit of space, growing primarily leafy greens, kale, and basil with plans to expand into strawberries, tomatoes, and carrots. In November 2019, Bowery raised $50 million in a Series B funding round led by Temasek Holdings, a global investment company headquartered in Singapore. By May 2021, the company had raised a $300 million Series C round led by Fidelity Management & Research Company at a valuation of $2.3 billion, demonstrating significant growth in valuation between the November 2019 and May 2021 rounds. |
| Dec 2018 | Series B | GV (lead); Notable Capital (lead); Temasek; General Catalyst; First Round Capital; Almanac Insights; Quiet Capital | $90M | - | Bowery Farming is a New York-based indoor vertical farming company that uses proprietary software and automation to grow leafy greens including arugula, butterhead lettuce, romaine, bok choy, and basil without pesticides. The company's BoweryOS system employs computer vision, robotic automation, and machine learning to monitor plants and environmental variables continuously, enabling 100 times greater productivity per square foot compared to traditional agriculture while using 95% less water. In December 2018, Bowery Farming closed a $90 million Series B funding round led by GV (formerly Google Ventures), with participation from Temasek, Almanac Ventures, First Round Capital, GGV Capital, and General Catalyst. This brought the company's total funding to $117.5 million since its 2015 inception, following a $20 million Series A in January 2017. At the time of the round, Bowery was operating two warehouses in New Jersey and selling products to Whole Foods, Sweetgreen, Dig Inn, and Foragers in the New York tri-state area, with roughly 65 employees. The company planned to use the capital to expand operations to multiple new cities by the end of 2019 and develop its global distributed farm network. |
| Jun 2017 | Series A | General Catalyst (lead); Notable Capital (lead); First Round Capital; GV; Evolution VC Partners; Gutter Capital; Flybridge | $20M | - | Bowery Farming, an indoor vertical farming company based in Kearny, New Jersey, develops high-tech warehouse farms using proprietary software called Bowery OS, which integrates computer vision, AI, sensors, LED lighting, and robotics to grow leafy greens like lettuce, kale, spinach, basil, arugula, and blends without pesticides, using 95% less water and achieving over 100 times the productivity of traditional outdoor farms on the same footprint. The company sells its fresh produce wholesale to restaurants, groceries, and retailers such as Whole Foods and Foragers Market, enabling same-day delivery from harvest to store in urban areas like New York. In June 2017, Bowery Farming raised $20 million in a Series A funding round co-led by General Catalyst and Notable Capital (also referred to as GGV Capital), with participation from GV (Google Ventures), Evolution VC Partners, First Round Capital, Flybridge, and Gutter Capital, bringing total funding to $27.5 million including a prior $7.5 million seed round. Funds were allocated to hire staff in engineering, sales, and business development, expand farm operations, and enhance technological capabilities for growing additional crops. At the time, Bowery operated one farm and had recently launched six packaged products into retail channels, focusing on a 'seed to store' model to prove its systems' viability. Competitors included AeroFarms, Plenty, BrightFarms, Earthbound Farms, and Dole. Bowery continued raising capital post-2017, reaching approximately $626 million to $725 million total by 2022-2024 across multiple rounds, with a $2.3 billion post-money valuation in a May 2021 Series C and $944 million valuation in November 2023, alongside expansions to additional farms producing 47 million servings annually and plans for sites in Texas and Georgia. The company faced high upfront costs for vertical farms, estimated at $50.8 million for a 159,000 sq ft facility projected to generate $144 million in annual revenue, and later encountered challenges including a 'Dead' funding status in November 2024. |
| Feb 2017 | Seed | First Round Capital (lead) | $8M | - | Bowery Farming raised $7.5 million in a seed round in February 2017 led by First Round Capital to scale operations and refine BoweryOS technology. The company operates indoor vertical farms using proprietary software BoweryOS, which employs vision systems, automation, and machine learning to monitor plant growth. This round preceded a $20 million Series A in June 2017 led by General Catalyst and Notable Capital, followed by larger rounds including a $90 million Series B in December 2018 led by Google Ventures and a $300 million Series C in May 2021 led by Fidelity. |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small}
Who has invested in Bowery Farming?
12 investors have backed Bowery Farming across its funding rounds, including First Round Capital, General Catalyst, GV, Temasek, Notable Capital and Flybridge.
Lead investors include Fidelity, Temasek, GV, Notable Capital, General Catalyst and 1 other investor.
Bowery Farming Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Philadelphia, PA | 3 | Lead | Feb 2017 | |
 Singapore | 2 | Lead | Dec 2018 | |
| San Francisco, CA | 2 | Lead | Jun 2017 | |
| San Francisco, CA | 2 | Lead | Jun 2017 | |
| San Francisco, CA | 2 | Lead | Jun 2017 | |
| Boston, MA | 1 | Lead | May 2021 | |
| New York City, NY | 1 | Participant | Jun 2017 | |
| New York City, NY | 1 | Participant | Jun 2017 | |
| New York City, NY | 1 | Participant | Dec 2018 | |
| New York City, NY | 1 | Participant | Jun 2017 | |
This data is available for Pro users. Sign up to see all 12 Bowery Farming investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Bowery Farming
Bowery Farming has acquired 1 company to date.
Last acquisition by Bowery Farming was on February 16th 2022. Bowery Farming acquired Traptic for undisclosed valuation.
Latest Acquisitions by Bowery Farming
| Description | Traptic is a Dutch agtech company developing computer vision systems for livestock monitoring. Based in Wageningen, it provides 3D cameras and AI software for dairy farms to track cow health, feeding, and behavior, integrating with Lely and DeLaval milking systems across Europe. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 16 Feb 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Bowery Farming acquisitions and their M&A valuation multiples. Start Free Trial | |
Bowery Farming Competitors
Bowery Farming competitors include listed companies like Olam Group and CJ CheilJedang, and private ones like Apeel Sciences, China ZhongDi Dairy, Fruitist and Halter.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Santa Barbara, CA | Private | - | - | $2B | - | |
 Beijing | Private | $1.3B | $295M | $1.9B | 1.5x | |
| Singapore | Publicly listed | $23B | $1.6B | $3B | 0.5x | |
| Los Angeles, CA | Private | - | - | $1B | - | |
 South Korea | Publicly listed | $20B | $1.6B | $2B | 0.6x | |
 Auckland | Private | $89M | - | $2B | 22.4x |
Bowery Farming Public Comps
Bowery Farming is still privately-owned, but its public comps include Anadolu Efes, Chagee, Maple Leaf Foods, Tiger Brands, Premier Foods, CR Beverage, Alicorp, Kent Gıda, Andersons and AWL Agri Business.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5B | $1.1B | 1.3x | 1.0x | 5.6x | 5.9x | |||
| $1.9B | $241M | 0.7x | 0.7x | 5.8x | 4.6x | |||
| $2.8B | $306M | 1.1x | 1.1x | 10.3x | 8.6x | |||
| $2.1B | $414M | 1.2x | 1.1x | 6.0x | 7.7x | |||
| $1.6B | $332M | 1.5x | 1.5x | 7.1x | 7.6x | |||
| $1.6B | $263M | 0.8x | 0.9x | 5.2x | 5.3x | |||
| $3.5B | $339M | 0.9x | 0.9x | 9.6x | 6.2x | |||
| $12M | $355K | 181.0x | - | 6122.4x | - | |||
This data is available for Pro users. Sign up to see all Bowery Farming competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bowery Farming
| When was Bowery Farming founded? | Bowery Farming was founded in 2015. |
| Where is Bowery Farming headquartered? | Bowery Farming is headquartered in New York City, NY, United States. |
| Is Bowery Farming publicly listed? | No, Bowery Farming is a private, VC-backed company. |
| What is Bowery Farming's valuation? | Bowery Farming was last valued at $2.3B in its Series A in February 2022. |
| How much funding has Bowery Farming raised? | Bowery Farming has raised $476M across 6 funding rounds. |
| What was Bowery Farming's last funding round? | Bowery Farming's last funding round was a $8M Series A in February 2022. |
| Who are Bowery Farming's investors? | Bowery Farming's investors include First Round Capital, Temasek, General Catalyst, GV, Notable Capital, Fidelity, Evolution VC Partners, Gutter Capital, Almanac Insights, Flybridge and 2 others. |
| Which companies are comparable to Bowery Farming? | Companies comparable to Bowery Farming include Apeel Sciences, China ZhongDi Dairy, Olam Group, Fruitist, CJ CheilJedang and Halter. |
| How many companies has Bowery Farming acquired? | Bowery Farming has acquired 1 company, including Traptic. |
See companies similar to Bowery Farming
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.