Monday, March 30, 2020

"SoftBank-Backed Farming Startup Plenty Is In Talks to Raise Cash"

If you are like me, you look back fondly to the days when you woke up hoping to hear about ear rot or vomitoxin in the corn.
But no, it's coronavirus and Softbank for the foreseeable future.

From Bloomberg:
Indoor farming startup Plenty Inc. is in talks to raise $100 million or more in a fresh round of funding, according to people familiar with the matter.

SoftBank’s Vision Fund is in discussions to lead a new fundraising round for Plenty at or below the $1 billion valuation that was ascribed to it in its most recent round, said the people, who requested anonymity because the matter is private. They cautioned that no agreement has been reached, and that one may not be finalized.

“Plenty does not comment on financing proposals and has not committed to any new financing rounds,” a spokeswoman for the South San Francisco-based company said in an emailed statement. “We are not in need of new equity financing, and evaluate any proposals opportunistically,” she added.

A representative for the Vision Fund didn’t immediately respond to a request for comment.
Plenty has raised about $400 million in capital over the past four years, according to PitchBook. In addition to the $100 billion Vision Fund, other backers include Data Collective, DCM, and funds that invest on behalf of Amazon Chief Executive Officer Jeff Bezos and former Google CEO Eric Schmidt....MORE
Also at Bloomberg:

Previously on Plenty:
February 2020 
March 2019 
January 2018
December 2017
October 2017