Vertical agricultural company (*1*)Plenty has applied for bankruptcyThe company said in a press release on Monday.
In his statement, Plenty He stated that he had received an obligation for $ 20.7 million in financing the debtor in Oposa as a part of the proposed restructuring plan. He plans to proceed to run a strawberry farm in Virginia and the Center for Research and Development of Plant Sciences (R&D) in Wyoming.
Financing the debtor in Oposa is financing for corporations in bankruptcy in chapter 11.
Since its inception in 2014, a stay with its registered office in San Francisco collected almost $ 1 billion of financing from various investors, including Softbank Investment Advisers, Walmart, Bezos Expeditions and Jeff Bezos as an angel investor.
The last known valuation was $ 1.9 billion Collecting funds from the E series value $ 400 million According to Pitchbook in January 2022.
In recent years, the industry has affected in recent years. In November 2024, Agtech Unicorn Bowryry Farming was closed after collecting over $ 700 million in financing and the last valuation of $ 2 billion in 2021, in 2023, Aerofarms and APPharvest had protected the bankrupt. Aerofarms collected over $ 300 million from supporters before submitting a bankruptcy application. In September 2023 Protection against bankruptcy stopped fully financed.
Appharvest collected over $ 700 million before it was published in 2021 with a valuation of $ 1 billion; He submitted an application for protection of chapter 11 in 2023.