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urban-gro

Vertical Farming
Product stageSegments
Growth
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Growing System Producers
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Colorado-based Urban-gro offers fully integrated indoor CEA facilities for cannabis and food production. The company designs, engineers, and integrates end-to-end cultivation systems for its customers. Urban-gro also offers customer service solutions including training, and audits, through its “gro-care” service platform. As of 2022, Urban-gro serves customers in North America and Europe and has completed over 450 projects.

In January 2022 , Urban-gro entered into a partnership with Thrive Agritech for its LED lighting solutions. According to the agreement, Thrive Agritech will be the authorized supplier for lighting systems for Urban-gro’s integrated solutions. The company partnered with Teens for Food Justice, a youth-led organization providing hydroponic farming solutions for food security, to open a new indoor vertical farm at Bruce Randolph High School in April 2022

The company went public on the NASDAQ  in July 2021, raising USD 62.1 million, offering 6,210,000 ordinary shares at USD 10 per share. The funds were to support Urban-gro’s expansion plans into the European market, and general corporate purposes, which included funding future investments and acquisitions that aligned with the company’s growth strategy. 

urban-gro recorded revenue of USD 16.8 million in Q1 2023 , down 20% YoY and net loss of USD 5.1 million, which worsened by 639% YoY. The company provides FY2023 consolidated revenue guidance, which is projected to fall between USD 100 million and USD 120 million, while its adjusted EBITDA is anticipated to be between a loss of USD 3 million and a slightly positive value.

Vertical Farming

Vertical Farming

Key stats
Featured companies
103
Total funding (USD)
5.7 Bn
Total addressable market (USD)
36.4 Bn
Key competitors
 
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Product Overview
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Company profile
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Recent Updates

Partnerships
Oct 2, 2023
urban-gro signs cannabis contracts worth USD 8 million
Vertical Farming
Partnerships
Sep 13, 2023
urban-gro signs cannabis contracts worth USD 3 million
Vertical Farming
Earnings/results
Aug 14, 2023
urban-gro Q2 2023 update: Revenue up 16% YoY; revises 2023 guidance downward
Vertical Farming
Earnings/results
May 11, 2023
urban-gro's Q1 2023 earnings update: Revenue beats analyst estimates despite declining 20% YoY
Vertical Farming
Partnerships
Apr 22, 2022
Urban-gro opens new vertical farm in partnership with Teens For Food Justice
Vertical Farming
Partnerships
Jan 6, 2022
Urban-gro partners with Thrive Agritech for LED lighting
Vertical Farming

Company Brief


HQ location:
1751 Panorama Point Unit G Lafayette CO USA
Founded year:
2014
Employees:
101-250
Total Funding:
USD 20.5 million
Last Funding
USD 10.0 million, Dec 2023

Funding


Funding data are powered by Crunchbase
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