USA: Vertical Farm Bowery Farming Announces Closure Bowery Farming, A Vertical Farming Enterprise Headquartered In New York, Has Announced The Suspension Of Operations At All Of Its Farms

Since its establishment in 2015, the company has secured over $700 million in funding and employed more than 500 staff members. As early as November 2023, Pitchbook reported that due to "financial difficulties", the company had carried out numerous layoffs. Facility Closures LoopNet shows that the former headquarters of Bowery Farming in the heart of Manhattan, New York, was still being rented out until recently, indicating that the company no longer occupies its former office. Bowery operates three commercial farms in New Jersey, Pennsylvania, and Maryland, with one research and development facility located in Kearny, New Jersey.

According to LoopNet, the former research and development facility of the company at 10 Basin Road, Kearny, New Jersey, might have been available for rent starting from March 31, 2023. And the farm at 1 East Road, Kearny, New Jersey, has been available for rent since October 22, 2024. Facility photos depict a 197,000-square-foot empty warehouse, suggesting that there is no activity in the facility. Bowery Farming operates three commercial farms in New Jersey, Pennsylvania, and Maryland, including a research and development facility in Kearny, New Jersey. According to LoopNet, the former research and development facility of Bowery at 10 Basin Avenue, Kearny, New Jersey, might have been available for rent starting from March 31, 2023.

And the Bowery Kearny Farm at 1 East Road, Kearny, New Jersey, has been available for rent since October 22, 2024. The Nottingham facility in Maryland has been available for rent since June 7, 2024. Bowery Farm supplies fresh produce to major retailers at more than 850 locations in the Northeast and Mid-Atlantic regions, including Whole Foods Market and Walmart. It also provides local fresh produce for various food delivery services. Other participants include Giant Food, Albertson's Companies (such as ACME and Safeway stores), and Weis Markets. In addition, the company supplies products to e-commerce retailers such as Amazon and Hungryroot. The company produces five salad combinations, four types of lettuce and three varieties of herbs, New York limited-edition berries, three set meals, and Farmer's Selections previously offered by retailers.

Investor Overview Bowery received early support from SV Angel before its seed round of financing. Subsequently, it obtained seed round investments from companies such as First Round Capital and Third Sphere, showing good development momentum. The Series A investment marked a turning point, with General Catalyst becoming the lead investor and Notable Capital and Google Ventures also joining the investment. Temasek Holdings, Notable Capital, and Almanac Insights remained confident in the Series B investment. In the Series C financing, investors such as Lewis Hamilton, José Andrés, Natalie Portman, Chris Paul, and Justin Timberlake also joined in. Additionally, Bowery also obtained debt financing led by Kohlberg Kravis Roberts.