With $115m in new funding, 80 Acres Farms tackles ‘the next big unlock for vertical farming’: plant genetics

US-based 80 Acres Farms has raised an additional $115 million, bringing its total funding to more than $370 million; the company will also focus on plant genetics for indoor agriculture with the acquisition of Israeli biotechnology company Plantae Biosciences.

“Now that we’ve figured out how to control a plant’s environment and give it a perfect day every day, we think the next big unlock for vertical farming is in plant genetics,” Jed Portman, senior manager of public affairs at 80 Acres, told AgFunderNews.

“Most crops have been bred for outdoor growing, which means they’re optimized for drought resistance, pest resistance, long and damaging supply chains, and other factors that aren’t as relevant in a controlled environment. This accelerated breeding technology [from Plantae Biosciences] will allow us to develop new crop varieties for our farms in a matter of a years, not decades, enhancing quality and the consumer experience.”

Among other things, Plantae uses metabolomics to create plants with unique and novel characteristics, and genome editing to accelerate the natural process of evolution in plants. Notably, the company has collaborated on plant breeding projects with the Weizmann Institute of Science since 2020.

With the acquisition, Plantae becomes part of Infinite Acres, 80 Acres’ tech-focused subsidiary, and will operate as Infinite Acres Israel.

“Crops tailored for controlled environment agriculture can be a major unlock for the industry,” noted Tisha Livingston, CEO of Infinite Acres and cofounder of 80 Acres. “Using advanced plant breeding technology, we can begin to truly differentiate produce by optimizing for flavor, texture, and nutrition, unlike anything available in the marketplace today.”

Fundraise underscores investor confidence in company vision

80 Acres’ new capital comes at a time when indoor agriculture — in particular, vertical farming — has seen many of its highest-profile companies file for bankruptcy (Aerofarms), lose valuation (Plenty) or close up shop entirely (Bowery).

80 Acres is among the handful of major players left, and company CEO and cofounder Mike Zelkind noted that its ability to raise capital today “speaks to the confidence investors have in the need for controlled environment agriculture and our vision and execution.”

The new capital will help expand 80 Acres’ capacity in retail, develop an ingredients channel, and complete a farm expansion in Kentucky, said Portman, who added the company hopes to announce future farm locations soon.

80 Acres farms are powered by Infinite Acres, which has developed a system that combines advanced lighting technology, proprietary airflow controls, water controls, and data analytics. It also uses robotics and automation for tasks like seeding, transplanting and harvesting.

Infinite Acres opened a research center in The Hague, Netherlands in 2024 with tech partners Siemens, Signify, SICK, and TTA. Portman says the company is particularly excited about the work happening there.

“That dedicated R&D space allows us to trial new growing techniques and technologies together—paving the way for even more efficient and sustainable farming. It’s a project that should benefit the whole industry.”

Another bright spot, he said, is the “increasing demand for fresh, local, and pesticide-free produce.”

The raise and its extensions saw participation from new and existing investors, including General Atlantic, Siemens Financial Services, The Western and Southern Life Insurance Company, Barclays Climate Ventures, Virgo Investment Group, Blue Earth Capital, and other leading Midwestern financial institutions.