Planet Farms
Assembly Line
Milan-based Planet Farms bags €36.6M for its vertical farming expansion in Italy and the UK
Milan-based Planet Farms, a vertical farming company, announced recently that it has secured $40M (approximately €36.6M) at $500M valuation in a fresh round of funding, bringing its total fund raised to $140M (approximately €128.3M).
The latest capital infusion will help the Italian company to expand its operations into Italy and the UK. Planet Farms will use the funds to complete its new facility in Cirimido, Italy, which will be operational by the end of summer 2024. The capital will also help the company’s entry into the UK market, where it is starting to commercialise its product through retailers, paving the way for the construction of the new facility in northern London, which will be operational in Q2 2025.