Bezos-backed farm startup in talks for more than 90% value cut

Quick Summary:

Plenty Unlimited Inc., a pioneer of vertical farming that’s drawn backing from billionaires including Jeff Bezos, is in talks for a new funding round that will virtually wipe out existing stockholders, according to a person familiar with the matter.

The $300 million facility was designed to grow multiple crops, including leafy greens and tomatoes, the company said.

The warnings are for districts in the states of New South Wales, Victoria, Western Australia and Tasmania.

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Article Details

Author / Journalist: Bloomberg News

Category: BusinessStartups

Markets: PhilippinesAustraliaUnited Arab Emirates

Topics: People Australia Company Talks Indoor Strawberries Million South According Farming Comment

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-05 @ 13:13:39 (5 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 843 words

Reading Time: 5 minutes read

Sentences: 39 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24905603

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 14 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 23 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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