News Summary

Vertical farming company Plenty has filed for bankruptcy, despite having raised nearly $1 billion from investors such as SoftBank, Walmart, Bezos Expeditions, and Jeff Bezos. The company announced it received $20.7 million in debtor-in-possession financing to continue operating its strawberry farm in Virginia and R&D center in Wyoming. Plenty, which was valued at $1.9 billion during its last funding round in January 2022, follows other agtech firms like Bowery Farming, AeroFarms, and AppHarvest that have faced financial difficulties recently.