Bowery Farming

Bowery Farming was a New York City-based vertical farming company founded in 2015 that grew pesticide-free leafy greens and herbs indoors using its proprietary BoweryOS platform.⁸⁹¹³ The company raised $625.9 million in total funding and reached a valuation of $2.3 billion in May 2021, with investors including Fidelity, Temasek, GV, and celebrities like Natalie Portman and Justin Timberlake.⁹¹³ Bowery Farming shut down operations in 2024 and laid off 187 workers, after which it filed for Chapter 11 bankruptcy protection in the District of Delaware on May 8, 2026.¹⁴¹⁵¹⁷

Timeline

Money raised

Bowery Farming raised a $7.5 million seed round in February 2017 led by First Round Capital.⁹ In June 2017, Bowery Farming raised a $20 million Series A round co-led by General Catalyst and GGV Capital.⁸⁹ Bowery Farming raised a $90 million Series B round in December 2018 led by GV and GGV Capital.⁸⁹ In November 2019, Bowery Farming raised a $50 million Series B round led by Temasek.⁸⁹ Bowery Farming raised a $300 million Series C round in May 2021 led by Fidelity at a $2.3 billion valuation.⁸⁹¹⁰¹³ In January 2022, Bowery Farming raised $150 million in debt financing led by KKR.⁹ Bowery Farming raised an $8.4 million venture round in February 2022.⁹

Investors named in the sources: First Round Capital⁸⁹, General Catalyst⁸⁹¹³, GGV Capital⁸⁹¹³, Temasek⁸⁹¹³, Fidelity⁸⁹¹³, KKR⁹, Natalie Portman¹³, Justin Timberlake¹³, Lewis Hamilton¹³, Chris Paul¹³, José Andrés¹³, Henry Kravis⁸¹³, Jeff Wilke¹³, Tom Colicchio¹³, David Barber¹³, Groupe Artémis¹³, Amplo¹³, Gaingels¹³, Almanac Insights⁸, Quiet Capital⁸, Evolution VC Partners⁸, Gutter Capital⁸, Flybridge⁸.

What happened

Bowery Farming was founded in 2015 in New York City by Irving Fain, Brian Falther, and David Golden.⁸⁹ The company developed a proprietary software platform called BoweryOS that integrated computer vision, automation, and machine learning to monitor plant growth.⁸⁹¹³ Bowery Farming operated indoor vertical farms that used 95% less water and achieved over 100 times the productivity per square foot compared to traditional field farming.⁸ The company grew pesticide-free leafy greens, herbs, and later expanded into strawberries and microgreens.⁸ Bowery Farming raised a $7.5 million seed round in February 2017 led by First Round Capital.⁹

In June 2017, Bowery Farming raised a $20 million Series A round co-led by General Catalyst and GGV Capital.⁸⁹ Bowery Farming raised a $90 million Series B round in December 2018 led by GV and GGV Capital.⁸⁹ In November 2019, Bowery Farming raised a $50 million Series B round led by Temasek.⁸⁹ Bowery Farming raised a $300 million Series C round in May 2021 led by Fidelity at a $2.3 billion valuation.⁸⁹¹⁰¹³ The Series C round included participation from celebrities Natalie Portman, Justin Timberlake, Lewis Hamilton, Chris Paul, and José Andrés.¹³

By May 2021, Bowery Farming's products were available in over 850 grocery stores, including Albertsons, Safeway, Acme, Giant Food, Walmart, and Whole Foods Market.¹³ The company reported more than 750% growth in brick-and-mortar retail availability since January 2020 and more than quadrupled e-commerce sales.¹³ In January 2022, Bowery Farming raised $150 million in debt financing led by KKR to accelerate expansion and build new farms in Georgia and Texas.⁹ Bowery Farming raised an $8.4 million venture round in February 2022.⁹ The company's total funding reached $625.9 million.⁹

Bowery Farming operated commercial farms in New Jersey, Maryland, and Pennsylvania, and had two R&D centers in New Jersey.¹¹ In 2021, Bowery Farming opened Farm X, an innovation hub in Kearny, New Jersey, which expanded R&D capacity by 300%.¹³ The company planned to expand into growing strawberries, tomatoes, and root vegetables.¹³ Bowery Farming faced high upfront costs for vertical farms, estimated at $50.8 million for a 159,000 sq ft facility.⁸ In February 2024, a former employee filed a race discrimination lawsuit against Bowery Farming in Pennsylvania Eastern District Court.¹⁶

The lawsuit was dismissed by stipulation on September 18, 2024.¹⁶ On November 7, 2024, Bowery Farming laid off 187 workers and reportedly shut down operations.¹⁴ The shutdown came after the company had raised hundreds of millions of dollars.¹⁷ The bankruptcy filing capped a 30-month decline for the company.¹⁵ Bowery Farming's failure was part of a series of financial setbacks in the vertical farming industry, including AeroFarms, AppHarvest, and Plenty.¹⁴¹⁷

The company's products were distributed through major retailers such as Walmart, Albertsons, Safeway, and Whole Foods Market.⁸¹³

Legal outcomes

• filedStephanie Zimmermann-Schmitt filed a race discrimination lawsuit against Bowery Farming, Inc. in the U.S. District Court for the Eastern District of Pennsylvania on February 22, 2024.¹⁶
• dismissedThe lawsuit was dismissed by stipulation on September 18, 2024.¹⁶

Where the founders are now

Irving Fain was the CEO and founder of Bowery Farming.¹³ Brian Falther and David Golden were co-founders of Bowery Farming.⁹

Sources

8. Bowery Farming Valuation, Funding & Investors | Multiples, multiples.vc, Sep 18, 20
9. How Much Did Bowery Farming Raise? Funding & Key Investors | Clay, clay.com, Apr 7, 202
10. Vertical farming company Bowery raises $300M, valuing ..., fooddive.com, May 25, 20
11. Bowery Farming pre-IPO · Dizraptor, dizraptor.app
13. Bowery Farming Secures $300 Million in Series C Funding to Accelerate Growth, prnewswire.com, 2021-05-25
14. Celebrity-backed indoor farming company Bowery closes, ..., agriculturedive.com, Nov 7, 202
15. Bowery Farming files Chapter 11 — second major vertical ..., aixpoint.de
16. ZIMMERMANN-SCHMITT v. BOWERY FARMING, INC. (5:24-cv-00775), Pennsylvania Eastern District Court, pacermonitor.com, Feb 22, 20
17. Produce Supplier 80 Acres Farms Files Chapter 7, Will Liquidate - Food Trade News & Food World, Food Trade News & Food World, 2026-08-27

How this case file was put together

Every statement on this page carries a numbered note, and every note points to a court record, a regulatory filing or a named publication in the list of sources. Each statement was checked against the text of the sources it cites before it was published: a figure, a date or a name the cited source does not contain was cut rather than kept. Allegations are shown as allegations, with their status at the time of the source (filed, charged, convicted, pleaded, settled, dismissed or pending). Quoted lessons are the words of the person or publication named with them, copied from the cited source; nothing here is our own opinion of why the company failed.

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