Gotham Greens Valuation, Funding & Investors

Gotham Greens is valued at $122M as of June 2018.

Last Gotham Greens valuation

$122M

Series C · Jun 2018

Last Gotham Greens funding round

$310M

Series E · Sep 2022

Cumulative funding Gotham Greens raised

$389M

across 4 funding rounds

Key investors in Gotham Greens

  • Silverman Group
  • Manna Tree
  • Ares Management
  • Creadev
  • BMO Capital Markets
  • Common Fund

Gotham Greens Overview

About Gotham Greens

Gotham Greens is a New York-based indoor farming company and Certified B Corporation that operates a network of high-tech hydroponic greenhouses producing pesticide-free leafy greens, herbs, salad kits, dressings, dips, and sauces using up to 90% less water and 97% less land than conventional farming. Founded in 2009 by Viraj Puri and Eric Haley, the company began with a rooftop greenhouse in Brooklyn and has since expanded to climate-controlled facilities across multiple U.S. states. Its products are sold in more than 6,500 retail locations nationwide, including Whole Foods, Kroger, and Amazon Fresh.


Founded

2009

HQ

United StatesUnited States

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$122M (Jun 2018)

Gotham Greens Valuation

Gotham Greens is currently valued at $122M, based on its Series C in June 2018.

The $29M round was led by Silverman Group, with participation from Creadev.

Gotham Greens' valuation has grown 2.0x from $62M at its Series A in November 2014 to $122M in June 2018, across 2 priced rounds.

Gotham Greens valuation by funding round

Gotham Greens valuation by funding round
DateStageValuation
Jun 2018Series C$122M
Nov 2014Series A$62M

Gotham Greens Funding History

Gotham Greens has raised a total of $389M across 4 funding rounds.

Gotham Greens' first fundraising round was a $8M Series A in November 2014. The most recent completed round was a $310M Series E in September 2022.

Gotham Greens funding rounds

Gotham Greens funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2022Series EAres Management (lead); BMO Capital Markets (lead); Kimco Realty; Rock Creek; Common Fund; Manna Tree; Silverman Group$310M-Gotham Greens, a New York-based indoor farming pioneer and Certified B Corporation, operates one of the largest networks of high-tech hydroponic greenhouses in North America, producing fresh leafy greens year-round. The company raised more than $310 million in a Series E funding round (noted as Debt - II in some sources) on September 12, 2022, led by BMO Impact Investment Fund and Ares Management, with participation from Commonfund, RockCreek, Kimco Realty Corporation, Manna Tree Partners, and The Silverman Group. This brought total funding to $440 million since its 2009 founding. Proceeds from the round supported construction of new greenhouses in Seagoville, Texas (near Dallas), Monroe, Georgia (near Atlanta), and Windsor, Colorado (near Denver), expansions at existing facilities in Chicago and Providence, R.I., and future projects and acquisitions. A key use was the first-ever acquisition of FresH2O Growers, a 540,000-square-foot operation in Virginia, immediately doubling production capacity and filling gaps between Northeast and Southeast markets. By 2023, Gotham Greens aimed to operate 13 climate-controlled hydroponic greenhouses totaling over 40 acres across nine states, targeting delivery of its produce within a day's drive to 90% of U.S. consumers. Products are distributed to over 3,000 grocery stores nationwide, including Whole Foods, Kroger, Albertsons, and Amazon Fresh. CEO Viraj Puri highlighted strong unit economics, with greenhouses described as profitable and capable of efficient capital stewardship, attracting interest from pension funds, insurance funds, and asset managers amid climate, supply chain, and pandemic challenges. The round included both equity and debt financing, positioning Gotham Greens among major controlled environment agriculture (CEA) fundraises, following a sector that raised $1.3 billion in 2021.
Dec 2020Series DManna Tree (lead); Silverman Group$42M-Gotham Greens is a New York-based indoor farming company and Certified B Corporation that operates high-tech hydroponic greenhouses to produce pesticide-free leafy greens, herbs, salad kits, dressings, dips, and sauces using up to 90% less water and 97% less land than conventional farming. Founded in 2009 by Viraj Puri and Eric Haley, it started with a rooftop greenhouse in Brooklyn and expanded to facilities across multiple U.S. states, reaching over 500,000 square feet by 2020 and more than 40 acres (1.8 million sq ft) later on. Products are sold in over 6,500 locations nationwide, including major retailers like Whole Foods, Kroger, and AmazonFresh. In 2020, Gotham Greens raised $87 million in a Series D funding round led by Manna Tree Partners with participation from The Silverman Group, bringing total financing to $130 million since inception. The capital included equity and debt and was intended to fuel U.S. expansion, decentralize food production, increase output at existing greenhouses, and develop new products. This round aligned with a surge in indoor agriculture investments, exceeding $1 billion since August 2020 amid pandemic-driven supply chain concerns. Around the 2020 funding, Gotham Greens reported doubling its revenue in the past year, with unit sales at retailers up 80% year-over-year and over 1,000 new retail points added since January, operating in more than 40 states. The company continued growing post-2020, raising $310 million in a 2022 Series E round led by BMO Impact Investment Fund and Ares Management, joined by Manna Tree, Silverman Group, and others, to support new greenhouses, expansions, and the acquisition of FresH2O Growers, doubling production capacity and bringing total financing to $440 million.
Jun 2018Series CSilverman Group (lead); Creadev$29M$122MGotham Greens is a New York-based hydroponic greenhouse company specializing in locally grown, sustainable leafy greens and produce using advanced climate-controlled facilities. On June 20, 2018, it closed a Series C funding round raising approximately $29-30 million led by The Silverman Group, with participation from Creadev, achieving a post-money valuation of $121.83 million. The funding supported expansion of its urban farming operations in New York and Illinois, totaling around 170,000 square feet at the time. Gotham Greens had cumulative funding of around $45 million prior to this round from investors including Manna Tree Partners. The company focuses on high-quality, pesticide-free greens delivered fresh to retailers within a day of harvest, positioning itself as a leader in urban agriculture amid growing demand for local, sustainable food. By 2018, Gotham Greens operated facilities producing significant volumes of baby greens, salad mixes, and herbs, competing with traditional field growers and emerging vertical farming players like AeroFarms and Plenty. Post-2018, Gotham Greens continued aggressive growth, raising a $310 million Series E in 2022 led by BMO Impact Investment Fund and Ares Management with Silverman Group participation, bringing total funding over $440 million. It expanded to multiple states including California, Colorado, and Virginia through acquisitions like FresH~2~O Growers, aiming for 40 acres of greenhouses by 2023 serving 90% of U.S. consumers within a day's drive.
Nov 2014Series A-$8M$62MGotham Greens completed a Series B funding round on November 13, 2014, raising $8.25 million at a post-money valuation of $61.81 million with participation from The Silverman Group and undisclosed investors. The company specializes in hydroponic farming, operating high-tech greenhouses to produce fresh leafy greens and herbs using significantly less water and land than conventional methods. Founded in 2009, Gotham Greens had previously raised nearly $3 million in Series A funding in 2010 and received grants and loans from NYSERDA and the New York Business Development Corporation. This 2014 round followed a $4.9 million Series B tranche earlier that year from investors including NGEN, Emil Capital Partners, and others. Gotham Greens focused on expanding urban greenhouses in locations like New York and Chicago, targeting high-value retail markets with expected gross profit margins exceeding 35 percent. The funding supported its mission to provide sustainable, locally grown produce year-round.

Who has invested in Gotham Greens?

8 investors have backed Gotham Greens across its funding rounds, including Silverman Group, Manna Tree, Ares Management, Creadev, BMO Capital Markets and Common Fund.

Lead investors include Ares Management, BMO Capital Markets, Manna Tree and Silverman Group.


Gotham Greens Investors

Investors in Gotham Greens by funding rounds participated
InvestorHQRoundsRoleFirst check
Silverman GroupUnited StatesBasking Ridge, NJ3LeadJun 2018
Manna TreeUnited StatesVail, CO2LeadDec 2020
Kimco RealtyUnited StatesUnited States1ParticipantSep 2022
CreadevFranceParis1ParticipantJun 2018
Rock CreekUnited StatesWashington, DC1ParticipantSep 2022
Ares ManagementUnited StatesLos Angeles, CA1LeadSep 2022

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Gotham Greens Competitors

Gotham Greens competitors include listed companies like Arctic Fish Holding and Gigante Salmon, and private ones like GreenOnyx, Kite Hill, Drip and Prabhat Dairy.

Public and private companies comparable to Gotham Greens
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GreenOnyxIsraelTel AvivPrivate--$98M-
Kite HillUnited StatesSan Francisco, CAPrivate--$121M-
DripUnited KingdomLondonPrivate$2M-$124M62.0x
Prabhat DairyIndiaMumbaiPrivate$107M-$120M1.1x
Arctic Fish HoldingNorwayNorwayPublicly listed$103M($12M)$120M2.4x
Gigante SalmonNorwayNorwayPublicly listed-$1M$119M8.7x

Gotham Greens Public Comps

Gotham Greens is still privately-owned, but its public comps include Arctic Fish Holding, Gigante Salmon, Cibus, Libstar Hldgs, Zemaitijos Pienas, FirstFarms, Dari Couspate, Valsoia, Iansa and Cake Box.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Arctic Fish Holding$103M($12M)2.8x2.4x(24.7x)42.7x
Gigante Salmon-$1M-8.7x143.2x1496.3x
Cibus$4M($91M)37.8x28.9x(1.5x)(2.3x)
Libstar Hldgs$758M$49M0.2x0.2x2.9x-
Zemaitijos Pienas$392M$33M0.3x-3.7x-
FirstFarms$64M$12M3.7x-19.5x-
Dari Couspate$86M$14M1.0x-6.3x0.4x
Valsoia$134M$16M1.0x0.9x8.3x8.5x

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Common questions about Gotham Greens

When was Gotham Greens founded?Gotham Greens was founded in 2009.
Where is Gotham Greens headquartered?Gotham Greens is headquartered in United States.
Is Gotham Greens publicly listed?No, Gotham Greens is a private, VC-backed company.
What is Gotham Greens' valuation?Gotham Greens was last valued at $122M in its Series C in June 2018.
How much funding has Gotham Greens raised?Gotham Greens has raised $389M across 4 funding rounds.
What was Gotham Greens' last funding round?Gotham Greens' last funding round was a $310M Series E in September 2022, led by Ares Management and BMO Capital Markets.
Who are Gotham Greens' investors?Gotham Greens' investors include Silverman Group, Manna Tree, Kimco Realty, Creadev, Rock Creek, Ares Management, Common Fund and BMO Capital Markets.
Which companies are comparable to Gotham Greens?Companies comparable to Gotham Greens include GreenOnyx, Kite Hill, Drip, Prabhat Dairy, Arctic Fish Holding and Gigante Salmon.

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