GrowUp’s £38m Investment to Revolutionise Salad Production
GrowUp, a pioneering vertical farm firm, has recently secured a substantial £38 million investment from Generate Capital, an infrastructure investment and operating company.
This new funding is set to bolster GrowUp’s efforts in expanding its vertical farm operations in Kent, advancing research and development at their ‘Leaf Lab’ site in Cambridge, and supporting their prominent brands, Unbeatable and Fresh Leaf Co.
The Chief Executive of GrowUp expressed immense gratitude and optimism about this development, highlighting the recognition of the team’s dedication and expertise.
They also stated that this investment is a fantastic boost to GrowUp, with Generate Capital’s support, they have demonstrated that vertically farmed salads are not only sustainable, cost-competitive, and commercially viable but also tasty, healthy, and long-lasting.
Consumers’ growing preference for UK-grown, sustainable, and pesticide-free salad leaves has driven this need for expansion. With the new funding, GrowUp aims to increase production to meet this demand and further revolutionise the United Kingdom‘s food production landscape.
What’s more, this latest investment builds on an initial financing round in 2021, which helped GrowUp showcase its energy-efficient growing systems and transform a five-acre brownfield site into the equivalent of 1,000 acres of grade 1 farmland in Kent.
This achievement underscored the effectiveness of GrowUp’s innovative approach to vertical farming, leveraging advanced technology to maximise yield and minimise environmental impact.
Generate Capital’s Chief Executive and Co-founder praised GrowUp’s swift success in earning the trust of the UK’s largest retailers, underscoring the appeal of their product lines and the strength of their team.
They went on to comment that GrowUp’s ability to quickly earn the trust of the UK’s largest retailers shows the appeal of their product lines, the strength of their team, and their ability to meet rising consumer demand for healthy, locally grown food.
Furthermore, they look forward to continuing their partnership to accelerate the decarbonisation of the food system by providing nutritious, affordable, and sustainable greens to UK consumers and food manufacturers.
GrowUp has made history as the first vertical farm to supply branded, bagged salads to major supermarket chains such as Tesco, Iceland, and SPAR, alongside other significant food service customers.
This milestone reflects the company’s commitment to delivering high-quality, fresh produce that meets the rigorous standards of leading retailers and discerning consumers alike.
Reflecting on their journey, GrowUp’s Chief Executive noted that they have been growing for over 11 years now. Also, they have come a long way with Generate Capital’s support since Kate Hofman and Tom Webster set up their first vertical farm in 2013, supplying salad leaves to London markets and restaurants.
Since its founding, GrowUp has consistently pushed the boundaries of vertical farming, leveraging cutting-edge technology and sustainable practices to redefine the future of agriculture.
Since its inception in 2013, GrowUp has secured over £100 million in investment and now operates 365 days a year from its state-of-the-art vertical farm in Kent. Once fully operational, the site is projected to produce an impressive 1.4 million bags of salad per week, ensuring a steady supply of fresh, nutritious greens for the UK market.
In conclusion, this significant investment from Generate Capital marks a pivotal moment for GrowUp, enabling the company to scale up its production capabilities and continue its mission of transforming the UK’s food production with sustainable, locally grown, and pesticide-free salad leaves.
The future of UK salad farming looks greener and more sustainable than ever, thanks to GrowUp’s innovative approach and unwavering commitment to excellence.
This partnership not only secures the growth of GrowUp but also sets a precedent for the future of agriculture, where technology and sustainability go hand in hand to meet the needs of consumers and the planet.
News Credits: GrowUp secures £38m investment to support growth
Things you may also like:
- Jones Village Bakery Acquired by Menissez Bakery Group
- Morrisons Partners with Sea Forest to Reduce Greenhouse Gas Emissions
- Carlsberg to Acquire Britvic in £3.3 Billion Deal