The Wall Street Journal reports that a record amount of money was raised by agricultural startups in the third quarter.
BrightFarms of NYC who builds and operates hydroponic greenhouses was one of the companies cited.
Agriculture startups raised $113.6 million in the third quarter, which is the highest amount raised in a quarter since industry tracker Dow Jones VentureSource began collecting data in 1992, Lora Kolodny reports for Dow Jones VentureWire. The amount raised in the agriculture and forestry sector has hit $161.1 million 2015 so far.
BrightFarms Inc., a locally grown produce purveyor, said it closed a $13.65 million Series B-1 financing, led by WP Global Partners, NGEN Partners, Emil Capital Partners and several other investors. The fresh capital infusion will enable it to build more greenhouses to supply supermarkets, BrightFarms said.