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Koga’s bet is this: If you can give people something special, the vertical farming business model can work. Oishii has closed its Series B at $150 million, Fortune can exclusively report.
Vertical farming is a proposed agricultural concept in which entire urban high-rise buildings, not just the building envelope, are dedicated to large-scale farming. [21] According to various researchers, to be realized vertical farms would require significant technological breakthroughs with regards to energy consumption and lighting. [ 22 ]
Findbusinesses4sale explored what the rise of vertical farming can mean for domestic food production, using Department of Agriculture data.
AeroFarms, founded in 2011, raised $40 million in 2017 and reportedly opened the largest indoor farm in the world in Newark, New Jersey in 2015; [27] by 2018 it built its 10th indoor farm. [27] As of June 2023, AeroFarms filed for Chapter 11 bankruptcy protection citing "significant industry and capital market headwinds".
The term "vertical farming" was coined by Gilbert Ellis Bailey in 1915 in his book Vertical Farming.His use of the term differs from the current meaning—he wrote about farming with a special interest in soil origin, its nutrient content and the view of plant life as "vertical" life forms, specifically relating to their underground root structures. [16]
According to the study, 61% of Georgia farmers reported having no life-work balance as a source of stress, as they relentlessly monitor farm operations and have no free time alone or with family.
The AVF acknowledges that vertical farming in its current state can provide access to fresh, safe, and sufficient food, independent of climate and location. In the decades to come, where overpopulation and severe planetary changes challenge our current way of life, vertical farming will become a necessary solution in global food production.
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