80 Acres Farms, one of the largest vertical farming operators with eight facilities across five states (Arkansas, Alabama, North Carolina, New York, and Ohio) in the US, has raised USD 160 million in a Series B funding round led by General Atlantic. New investors, such as Siemens Financial Services Inc and Blue Earth were joined by existing investors, namely Barclays and Taurus, in this round of funding.

The company intends to use the funds for market expansion and to further improve its product offering for existing and new markets. Additionally, it is researching new profitable crops that could be grown indoors (such as strawberries and hops) to expand its existing range.

The company reports that it has enjoyed 450% growth in revenue during 2021 (year to date). Its products are currently available across 600 retail and foodservice locations.