GrowUp Receives £38M Investment to Expand Vertical Farming
GrowUp, a London, UK-based vertical farming company, recently announced a significant £38M investment from Generate Capital. This infusion of funds will be instrumental in the company's efforts to expand its capacity, further solidify its position as a leader in the UK salad category, and support the growth of its popular Unbeleafable and Fresh Leaf Co. brands. Additionally, the investment will fuel research and development at GrowUp's innovative Leaf Lab site in Cambridge, as well as bolster its standing as a certified B Corp.
This latest round of funding represents an extension of Generate Capital's ongoing partnership with GrowUp.
The two companies previously joined forces in 2021, when an initial financing round allowed GrowUp to showcase its energy-efficient growing system and initiate the transformation of a five-acre brownfield site in Kent into the equivalent of 1,000 acres of grade 1 farmland. Founded in 2013 by Kate Hofman and Tom Webster, GrowUp Farms has quickly made a name for itself in the vertical farming industry.
At GrowUp Farms, cutting-edge technology and 100% renewable energy from a co-located bioenergy plant combine to create the perfect growing environment for their high-quality leaves. This approach ensures that their products receive the optimal balance of water, light, and nutrients, resulting in superior taste and freshness. GrowUp has already made strides in the market, becoming the first vertical farm to supply branded, bagged salads to major retailers such as Tesco, Iceland, and SPAR, as well as various food service clients.
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