AmplifiedAg Inc. Completes $40MM in Capital Raise, Expanding Global Technologies and Vertical Roots Indoor Farms across the Southeast
Funding will propel the continued expansion of AmplifiedAg's Vertical Roots hydroponic container farm business and the development of its AmpEDGE™ farm management software
CHARLESTON, S.C., Aug. 9, 2021 /PRNewswire/ -- AmplifiedAg Inc.™, fast-growing agtech industry leader on a mission to provide global access to safe food, announced today that the company has completed $40 million in equity financing. The funding will support the continued expansion of the company's world-leading hydroponic container farm, Vertical Roots and further development of the company's holistic operating system, AmpEDGE™, which uniquely combines environment monitoring and controls with business operations for end-to-end indoor farm management.
"Our demonstrated ability to scale our indoor farms and technology is leading to discussions with strategic and financial partners, and we expect to consummate additional financing later this year to further accelerate Vertical Roots' presence across the Country," said Don Taylor, CEO of AmplifiedAg.
Vertical Roots' rapid success exemplifies the time, profitability, operational growth efficiency, and superior product quality AmplifiedAg farms and technology achieve. In less than four years, Vertical Roots has grown to be the largest hydroponic container farm in the world growing multiple varieties of mature, fresh leafy greens. The company currently operates three farm sites in Charleston, S.C., Columbia, S.C., and Atlanta, Ga. with produce available at 1,700 major grocery stores across 12 states including retailers such as Publix, Harris Teeter and Whole Foods, as well as schools, universities, and restaurants.
The current round of funding will support the installation of farms in north and central Florida, extending Vertical Roots' dominant position as the leading CEA and vertical farming business in the southeast market.
AmplifiedAg implements a distinctive strategy to operate Vertical Roots farms directly at distribution facilities, eliminating a massive leg of produce transportation in order to reduce emissions and provide communities with fresh, locally grown produce. Vertical Roots current focus is on nutritious, mature lettuce varieties that are celebrated for their flavor, freshness and being 100% pesticide-free.
Taylor added, "We're dually focused to deploy Vertical Roots farms across the country as close to the point of consumption as possible, while advancing and expanding AmplifiedAg's global network of proven technologies and farms to others in the CEA industry."
About AmplifiedAg, Inc.
AmplifiedAg, Inc.™ is an agtech industry visionary on a mission to provide global access to safe food. The company manufactures indoor vertical container farms, hydroponic systems, and disruptive seed-to-sale SaaS-based technologies. AmplifiedAg provides holistic indoor farming solutions to sustainably grow and distribute food anywhere in the world.
AmplifiedAg owns and operates Vertical Roots, the largest hydroponic container farm in the World with produce in over 1,700 grocery stores nationwide. Learn more at www.amplifiedaginc.com. Growing Food for a Growing World.
SOURCE AmplifiedAg
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