Powered by SaaS Industry
At a Glance
An agritech company, AmplifiedAg Inc., has completed a $40 million equity funding round. Vertical Roots, AmplifiedAg’s hydroponic container farm, and AmpEDGE, its operating system, will benefit from the financing.
AmplifiedAg Inc., an agritech company, has announced that it has raised $40 million in equity financing. The firm manufactures indoor vertical container farms, hydroponic systems, and revolutionary seed-to-sale SaaS-based technologies.
The funds will be used to support the company’s hydroponic container farm, Vertical Roots, and the continued development of AmpEDGE, the company’s holistic operating system that combines environment monitoring and controls with business operations for end-to-end indoor farm management.
Our demonstrated ability to scale our indoor farms and technology is leading to discussions with strategic and financial partners, and we expect to consummate additional financing later this year to further accelerate Vertical Roots’ presence across the US.”Don Taylor, CEO of AmplifiedAg
Vertical Roots’ fast development illustrates the time, profitability, operational growth efficiency, and improved product quality achieved by AmplifiedAg farms and technology. Vertical Roots has grown to be the world’s biggest hydroponic container farm, producing many types of mature, fresh leafy greens in less than four years.
With produce accessible at 1,700 major grocery stores throughout 12 states, including merchants such as Publix, Harris Teeter, and Whole Foods, as well as schools, universities, and restaurants, the firm now runs three farm locations in Charleston, S.C., Columbia, S.C., and Atlanta, Ga.
Vertical Roots’ strong position as the top CEA and vertical farming firm in the southeast market will be extended with the latest investment round, enabling the installation of farms throughout north and central Florida.
AmplifiedAg uses a unique method to run Vertical Roots farms directly at distribution centers, removing a significant leg of product transportation and providing communities with fresh, locally farmed food. Vertical Roots’ current focus is on nutrient-dense, mature lettuce cultivars known for their taste, freshness, and pesticide-free status.
We’re dually focused to deploy Vertical Roots farms across the country as close to the point of consumption as possible, while advancing and expanding AmplifiedAg’s global network of proven technologies and farms to others in the CEA industry.Don Taylor, CEO of AmplifiedAg