Sep 13, 2022

Gotham Greens secures more than $300 million in new capital

Gotham Greens, a Certified B Corporation and New York-based indoor farming pioneer that operates one of the largest networks of high-tech hydroponic greenhouses in North America, has raised more than $310 million in new capital.

It brings company’s total financing to $440 million since its founding in 2009.

The latest fundraising round, the company’s largest to date, includes equity and debt funding led by new investors BMO Impact Investment Fund (IIF), a sustainability-focused investment fund of the Bank of Montreal, and Ares Management funds. The Series E round was joined by additional new investors, including Commonfund, RockCreek and Kimco Realty Corporation, along with key existing investors, including Manna Tree Partners and The Silverman Group.

Gotham Greens plans to use the funding to accelerate its mission to decentralize agricultural production and bring more greenhouse-grown produce and fresh, plant-based foods to people across the United States through channel and geographic market expansion, increased operational capacity and new product development. The company’s product portfolio includes greenhouse-grown leafy greens and herbs, along with a line of refrigerated salad dressings, dips and cooking sauces.

This Series E capital raise will support Gotham Greens’ new greenhouse projects currently under construction in Seagoville, Texas (near Dallas), Monroe, Georgia, (near Atlanta) and Windsor, Colorado (near Denver), the expansion of its existing greenhouses in Chicago and Providence, Rhode Island, as well as future projects and acquisitions in other regions across the U.S.

By 2023, Gotham Greens will own and operate 13 high-tech, climate-controlled hydroponic greenhouses, totaling more than 40 acres (1.8 million square feet) across nine states. The greenhouse expansion projects join Gotham Greens’ existing greenhouse farms in New York, Rhode Island, Maryland, Illinois, Colorado and California. The new greenhouses will enable Gotham Greens to continue serving many of the country’s largest grocery retailers, which continue to see a steady increase in consumer demand for greenhouse-grown produce.

For more information, visit gothamgreens.com.