Investors are sinking hundreds of millions into a technology that could revolutionize the way we eat

In the largest agriculture-tech funding round in history, vertical farming startup Plenty attracted $200 million
Plenty will use the investment to build more farms around the world
Some experts say the investment could make the indoor farming industry more viable as a whole

Plenty is no ordinary farm.

Instead of growing greens outdoors, the farm grows its food on glowing, LED-lit 20-foot-tall towers inside

The technique is called indoor vertical farming, a type of agriculture in which food grows on trays or hanging modules in a climate-controlled, indoor facility. The process could one day upend the world of agriculture, because it means certain types of food could be produced yearround, anywhere, in a small space. Produce could be delivered to consumers within hours of harvest.

Plenty, founded in 2014, claims to The goal, Plenty CEO told Business Insider, is to revolutionize the way the world grows food — and sell that food for lower prices than typical produce.

A $200 million investment in the startup could help make that vision viable.

Announced July 19, the Series B funding round was led by SoftBank Vision Fund and included

predicts that more consumers will look for locally grown produce, which could also help the indoor farming industry.

Vertical farming has attracted increasing interest from venture capitalists in recent years. Founded in 2004, vertical farming company AeroFarms is growing dozens of varieties of greens in nine warehouses (the largest at 69,000 square feet) in New Jersey, and has raised $95.8 million to date. Another startup, called Bowery, has raised $20 million since its early 2017 launch.

Plenty has raised the most money by far.

Not every venture has proven successful, though. but axed the project in 2016 after the team couldn't grow enough staple crops, like grains and rice, using the technique. declared bankruptcy

Like Plenty, most vertical farming startups focus on growing greens, which can generate a higher yield at a lower operational cost than other types of produce. But even industrial-sized vertical farms, like those operated by AeroFarms and Bowery, sell their greens for about the same price as organic produce (sometimes even more).

Plenty is hoping to eventually offer its greens at a cost lower than greens grown on traditional, non-organic farms, Barnard said. One of the biggest struggles for the company is the energy usage cost from the LEDs, though the lighting technology has become more of a commodity in the past several years.

Barnard said he's confident that the indoor farming industry will continue to expand.

he said.

Investors are sinking hundreds of millions into a technology that could revolutionize the way we eat

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