Bowery Farming: Growing the Indoor Agriculture Space

Bowery Farming: Growing the Indoor Agriculture Space
Bowery Farming Company Profile

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Over the last decade, agriculture has been sitting preciously at the hub of so many global challenges. The world's ability to feed a growing urbanized population is already at risk. Traditional agriculture's outsized consumption of natural resources, food safety issues, and vulnerability to drastic climate change events put enormous pressure on the strained system. So, there is a dire need for the world to discover innovative and sustainable solutions to transform farming patterns.

Bowery Farming is a United States-based company helping secure the future of food by growing smart, more reliable, and less harmful produce wherever it's needed. The company designs its fruits and vegetables to withstand pesticides, weather, and long-distance travel.

Let's read further to explore how Bowery Farming is reshaping the food landscape with its indoor agriculture system. This article will help you learn all about the company, from its founding members and startup story to growth.

Bowery Farming – Company Highlights

Company Name Bowery Farming
Headquarters New York City, New York, United States
Sector AgTech
Founders Irvin Fain, David Golden, and Brian Falther
Founded 2015
Valuation $2.3 billion (2021)
Website Bowery.co

About Bowery Farming
Bowery Farming – Industry
Bowery Farming – Founders and Team
Bowery Farming – Startup Story
Bowery Farming – Mission and Vision
Bowery Farming – Name, Logo, and Tagline
Bowery Farming – Business Model
Bowery Farming – Revenue Model
Bowery Farming – Products and Services
Bowery Farming – Funding and Investors
Bowery Farming – Mergers and Acquisitions
Bowery Farming – Growth
Bowery Farming – Marketing Strategies
Bowery Farming – Partners
Bowery Farming – Awards and Achievements
Bowery Farming – Competitors

About Bowery Farming

Headquartered in New York, Bowery Farming is vertical farming and digital agriculture company with farms in Pennsylvania, New Jersey, and Maryland. It's the largest vertical farming company in the U.S. involved in designing and building smart indoor environments to reimagine the future of food. Bowery Farming is transforming the entire fresh food supply chain to be smarter, safer, and more sustainable.

The company serves major retailers at 850+ locations throughout the Northeast and Mid-Atlantic areas, including Walmart, Whole Foods, Amazon, and Ahold Delhaize, while supporting local fresh produce supply for several food-delivery companies.

Bowery Farming – Industry

Bowery Farming is an important part of the AgTech industry, with the global market valued at $10.5 billion in 2021. The market is poised to grow to $22.57 billion by 2025 at a remarkable CAGR of 16.53%.

Changing perspectives on the significance of how food is produced, rising disposable income, urbanization, and increasing demand for healthy eating habits are major drivers in the AgTeach market. Some key players capturing the significant AgTech market size include Cargill, ADM, Bayer, AgroStar, Trimble, and Topcon Agriculture.

Agricultural Technology (Agtech) Market Value Worldwide from 2020 to 2025
Agricultural Technology (AgTech) Market Value Worldwide from 2020 to 2025

Bowery Farming – Founders and Team

Irving Fain, David Golden, and Brian Falther co-founded Bowery Farming.

Irving Fain

Irving Fain - Co-founder and CEO, Bowery Farming
Irving Fain - Co-founder and CEO, Bowery Farming

Irving Fain is the Co-founder and CEO of Bowery Farming. He is an alumnus of Brown University and graduated B.A. in English. Previously, he was Director of Digital Marketing & Content at iHeartMedia, Studio Lead at Cornell Tech, and Board Member & Advisor at Estimize. In addition to founding Bowery Farming, Irving is an ex-Co-Founder and CEO of CrowdTwist, Inc.

David Golden

David Golden - Co-founder, Bowery Farming
David Golden - Co-founder, Bowery Farming

David Golden completed BBA from the University of Michigan and an MBA from The Wharton School. He has been the ex-Investment Professional of Durham Asset Management and Freshford Capital. David also co-founded LeapPay, which Funding Circle acquired.

Currently, he is the Co-Founder at Bowery Farming and Standard Bots.

Brian Flather

Brian Flather - Co-founder, Bowery Farming
Brian Flather - Co-founder, Bowery Farming

Brian Flather studied B.S. in Mechanical Engineering from Kettering University. He worked as Bowery Farming's Co-founder and Systems Engineering head from February 2015 to January 2020. Currently, Brian is the Founder of HopTera, blu5tep Records, and Iceberg Oasis.

Bowery Farming employs over 500 employees.

Bowery Farming – Startup Story

Irving Fain founded Bowery Farming in 2015, believing that technology and innovation could reimagine our food system for the better. He brought on entrepreneurs David Golden and Brian Falther as the company's co-founders. And after a short while, Henry Sztul joined Bowery Farming as a part of its founding team.

Bowery Farming announced its newest leafy green launch, i.e., 'Bowery Crispy Leaf Lettuce,' in August 2020. It opened Farm X, an innovation hub for plant science in Kearny, NJ, and added a third commercial smart farm in Bethlehem, Pennsylvania, in 2021. The company expanded to Georgia and Texas by opening two new farms, expanded its product offers with ready-to-eat salad kits, and its produce got OU Kosher Certified in 2022.

Bowery Farming – Mission and Vision

Bowery Farming aims to democratize access to high-quality, local, safe, and sustainable produce. The company dream of a world where agriculture gives back to the planet and people more than it takes.

Bowery Farming – Name, Logo, and Tagline

Bowery Farming evolved its company's logo and came up with a tagline, 'Eat Up,' focused on the potential of vertical farming to grow more with less and fight for the food's future by growing smarter.

Bowery Farming - Tagline
Bowery Farming - Tagline

Bowery Farming – Business Model

Bowery Farming builds indoor vertical farms outside of cities that grow flavorful food with no pesticides and pollutants, all while using less water and land. The company's network of smart farms is powered by its proprietary farm operating system, BoweryOS, which combines AI, software, and hardware to create a simplified, agile food system focusing on freshness, flavor, and safety. Bowery's farm provides 100x more produce per square foot of land than traditional agriculture with 100% renewable energy and 90% less water.

Bowery Farming – Revenue Model

Bowery Farming generates revenue by shipping its smart, fresh, and flavorful produce to local retailers and food-delivery companies.


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Bowery Farming – Products and Services

Bowery Farming grows fresh produce of Avocado Ranch, Baby Butter, Baby Kale, Balsamic, Baby Romaine, Berries, Basil, Crispy Leaf, Mustard Frills, Mixed Greens, Zesty Caesar, and Spring Mix. In addition, the company has developed BoweryOS- the AI-based proprietary farm operating system.

Bowery Farming – Funding and Investors

Bowery Farming has completed 8 funding rounds and raised $625.9 million. Its latest funding round – Venture Series Round, was conducted on February 25, 2022, and raised $8.4 million. The company is funded by teaching and agriculture industry leaders, including Fidelity, General Catalyst, Temasek, Google Ventures, First Round Capital, GGV Capital, KKR, and many other individual investors.

Date Round Number of Investors Money Raised Lead Investor
February 25, 2022 Venture Series - $8.4 million -
January 12, 2022 Debt Financing 1 $150 million Kohlberg Kravis Roberts
May 25, 2021 Series C 17 $300 million Fidelity Management and Research Company
November 6, 2019 Series B 2 $50 million Temasek Holdings
December 13, 2018 Series B 7 $90 million GGV Capital, Google Ventures
June 14, 2017 Series A 7 $20 million General Catalyst, GGV Capital
February 24, 2017 Seed Round 17 $7.5 million First Round Capital
September 28, 2015 Pre Seed Round 1 - -

Bowery Farming – Mergers and Acquisitions

Bowery Farming acquired Traptic on February 16, 2022.

Bowery Farming – Growth

After the Series C round in May 2021, Bowery Farming reported selling its produce in 850 stores. The company's grocery sales increased by 750% since January 2020 with its presence in mainstream grocers. In the same year, i.e., 2021, its revenue was nearly $28 million for a full year of production, and post-money valuation was $2.3 billion. Later, in April 2022, Bowery Farming sold its produce to 1,000+ stores.

Bowery Farming – Marketing Strategies

Bowery Farming launched a Feel Good Green marketing campaign in March 2022 to inspire everyone to eat and feel their best. The campaign reassured produce lovers that they were making the right choice by opting for Bowery's fresh, pesticide-free, leafy, non-GMO greens. The Feel Good Green campaign mainly targeted the New York tri-state area and Mid-Atlantic markets.

Later, in July 2023, the company rolled out new branding that included a new logo, website design, product packaging, emphatic advertising, and animation.

Bowery Farming – Partners

Bowery Farming has entered partnerships with many leading companies, including:

  • Kayco
  • Unfold
  • The Nature Conservancy (TNC)
  • Sweetgreen
  • University of Arkansas System Division of Agriculture

The High-Tech Vertical Farmer

Bowery Farming – Awards and Achievements

Bowery Farming is rewarded with the following recognitions from industry leaders:

  • Ranked First in the FoodTech500 2022 Listing
  • Recognized as one of the AgTech Companies by TechRepublic in 2023

Bowery Farming – Competitors

Some top competitors of Bowery Farming are as follows:

  • Asmus Farm Supply
  • Plenty
  • AeroFarms LLC
  • AgroFresh
  • 80 Acres Farms
  • Infinite Harvest
  • Crop One
  • Upward Farms

FAQs

What does Bowery Farming do?

Bowery Farming is vertical farming and digital agriculture company. It's the largest vertical farming company in the U.S. involved in designing and building smart indoor environments to reimagine the future of food. Bowery Farming is transforming the entire fresh food supply chain to be smarter, safer, and more sustainable.

Who are the founders of Bowery Farming?

Irving Fain, David Golden, and Brian Falther co-founded Bowery Farming.

Who are the main competitors of Bowery Farming?

The main competitors of Bowery Farming include Asmus Farm Supply, Plenty, AeroFarms LLC, AgroFresh, 80 Acres Farms, Infinite Harvest, Crop One, and Upward Farms.

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