Vertical Farming Operation Nets New Funding From Barclays

Posted by Brian Sparks|November 12, 2020

80 Acres Farms, which operates eight indoor farms in the U.S., including a new state-of-the-art facility in Hamilton, OH, has announced that it added Barclays as a strategic investor in the business, joining Virgo Investments, Orange Wings Capital, QuietStar Capital, and other family office investors.

80 Acres Farms is a 2019 fellow from the Unreasonable Impact Americas program and award winner recognized for its work addressing the global pandemic’s effects. The company addresses both sustainability and food security through growing food with vertical farming technology and reducing water usage by 97% on less than 1% of the land, with 300 times the yield.

“There has been an explosion in demand for fresh, locally grown, nutritious food, and this investment round enables us to continue to meet that demand at the right unit economics,” says Mike Zelkind, CEO of 80 Acres Farms. “We look forward to developing our relationship with Barclays and its global network through our shared passion for enhancing sustainability in this industry.”

Andrew Challis, Co-Head of Principal Investments at Barclays, says the partnership is an exciting investment proposition for Barclays as it supports clients’ and consumers’ transition to a low-carbon economy and underpins Barclays’ ambition to take a leading role in tackling climate change.