Investors have poured $200 million into Plenty, an indoor farming company based in San Francisco.
It is the largest agricultural technology investment ever, according to a news release.
The Series B funding round was led by SoftBank Vision Fund, and its managing director Jeffrey Housenbold is joining the Plenty board of directors.
“The world is out of land in the places it’s most economical to grow these crops,” Plenty co-founder and CEO Matt Barnard said in the release. “ ... We’re now ready to build out our farm network and serve communities around the globe.”
Plenty plans to build near major population centers around the world, delivering produce to grocery shelves “within hours of harvest,” according to the release.