Plenty is a developer of indoor farms that grow pesticide-free, non-GMO leafy greens that are grown and delivered locally, cutting transportation miles and reducing emissions.
Martin Mundo, the Walmart executive in charge of buying all produce for U.S. stores, declined to say how much Walmart was investing, only adding that it will have a board seat when the deal is closed. The deal is subject to regulatory approval, Walmart said.
Vertical-farm company Plenty Unlimited Inc. said it has raised $140 million in fresh financing led by existing backer SoftBank Group Corp. along with new investor Driscoll’s Inc.
