Agritech startup Bowery raises $90 million

New York-based Bowery has  announced that it has raised $90 million in fresh funding.

The series B round was led by GV, with participation from Temasek and Almanac Ventures; the company’s Series A investors, General Catalyst  and GGV Capital; and numerous of its seed investors, including First Round Capital.

Bowery sells eight pesticide-free leafy green products: arugula, butterhead lettuce, romaine, bok choy, basil, and lettuce mixes branded as spring blend, kale mix, and sweet and spicy mix. Customers include Whole Foods, Foragers and Sweetgreens in the New York area, as well as a few restaurants.

The deal brings Bowery’s total funding to $117.5 million after it closed a $20 million Series A last year. Existing investors GGV Capital, General Catalyst and First Round Capital re-upped their investment in this round. Other shareholders include local New York chef sTom Colicchio, José Andrés and Carla Hall.

Bowery argues that it’s two vertical farms in the Tristate area are the most technologically advanced in the world. It uses a variety of hydroponic systems but they are all connected by its proprietary software system called BoweryOS. The system uses computer vision and robotic automation technology, guided by machine learning algorithms to monitor its crops and all the variables that drive their growth throughout the day.

 

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