80 Acres Farms, a leading US-based vertical farming company, has secured an additional $115 million in funding, bringing its total investment to over $370 million. The new funds will support the company’s efforts to enhance plant genetics for indoor agriculture, following the acquisition of Israeli biotechnology company Plantae Biosciences.
Jed Portman, senior manager of public affairs at 80 Acres, explained, “Now that we’ve perfected controlling the plant environment, we see plant genetics as the next major advancement in vertical farming.” Portman highlighted that traditional crops have been bred for outdoor conditions, making them less suited for controlled environments. By incorporating Plantae’s accelerated breeding technologies, 80 Acres aims to create new crop varieties optimized for indoor farming, improving quality and consumer experience in just a few years.
Plantae Biosciences specializes in metabolomics and genome editing, techniques that speed up plant evolution. The company’s collaboration with the Weizmann Institute of Science has already yielded impressive results in plant breeding.
The acquisition of Plantae will integrate it into Infinite Acres, 80 Acres’ tech-focused subsidiary, where it will operate as Infinite Acres Israel. Tisha Livingston, CEO of Infinite Acres, emphasized the potential of breeding crops for controlled environments, enabling farms to produce produce with exceptional flavor, texture, and nutrition.
This funding boost arrives amidst challenges for the vertical farming sector, with several major companies struggling. However, 80 Acres remains confident, with CEO Mike Zelkind noting that the company’s ability to attract investment reflects strong confidence in controlled environment agriculture and its vision for the future.
The new funds will support further retail capacity expansion, ingredient development, and farm growth in Kentucky. Infinite Acres also continues its R&D work, including its newly opened research center in The Hague, Netherlands, focusing on sustainable and efficient farming practices with the help of key technology partners like Siemens and Signify.
