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BrightFarms is raising $100 million in new investment funds led by Cox Enterprises, the indoor farming company said in a statement.
The funds will help expand BrightFarms’ network of hydroponic greenhouse farms to all major U.S. markets, grow existing and new retailer partnerships, and meet increasing consumer demand for fresh, locally grown produce.
Few sectors in the food space have been as popular with investors in recent weeks as indoor greenhouses, reflecting increased consumer demand for their fruits and vegetables. In late September, Revol Greens raised $68 million in a funding round to finance its growth, AppHarvest announced plans to go public and Plenty Unlimited received $140 million in funds.