London-based vertical farming company GrowUp Farms has raised €45 million (£38 million) in investment from US-based Generate Capital. This funding will support the expansion of their Kent facility to meet the growing demand for their pesticide-free, ready-to-eat salads.
Generate Capital, which first partnered with GrowUp Farms in 2021, has been instrumental in transforming a five-acre site in Kent into a vertical farm equivalent to 1,000 acres of traditional farmland. Scott Jacobs, CEO and co-founder of Generate Capital, praised GrowUp’s rapid growth, noting, “GrowUp has seen nearly an 800% increase in sales year over year, showcasing the appeal of their product lines and the strength of their team.”
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Advancing Sustainable Food Production
With the new funding, GrowUp Farms aims to enhance its production capabilities, support its brands Unbeleafable and Fresh Leaf Co., and advance research and development at its Leaf Lab in Cambridge. CEO Marcus Whately expressed enthusiasm for the investment: “This boost recognizes our team’s passion and talent. Partnering with Generate Capital aligns with our mission to provide nutritious, affordable, and sustainable greens to UK consumers.”
Pioneering Vertical Farming in the UK
Founded in 2013 by Kate Hofman and Tom Webster, GrowUp Farms has evolved from a small London unit supplying local markets to operating a five-acre vertical farm in Kent. The facility uses advanced technology and renewable energy to produce salad leaves year-round. Once fully operational, the Kent farm will produce 1.4 million bags of salad per week.
GrowUp Farms has also been a trailblazer in the UK market, becoming the first vertical farm to supply branded salads to major retailers such as Tesco, Iceland, and SPAR.
Commitment to Sustainable Practices
As a certified B Corp, GrowUp Farms is dedicated to sustainability and innovation in food production. The company’s unique approach has demonstrated the viability of vertically farmed salads, offering a sustainable, cost-competitive, and commercially viable alternative to traditional farming methods.
With this significant investment, GrowUp Farms is poised to expand its production capabilities and continue its mission to transform UK food production, providing consumers with healthy, locally grown, pesticide-free greens.
