Just over two years on from its initial investment in GrowUp, leading sustainable infrastructure investment and operating company, Generate Capital, has shown its faith in our vision and purpose with a further investment of £38 million.
The new funding will help us to expand capacity at our Kent vertical farm, accelerate our leadership of the UK salad category, support the growth of our popular salad brands Unbeleafable and Fresh Leaf Co., drive R&D at the GrowUp Lab site in Cambridge, and increase our influence as a certified B Corp.
It also extends our existing partnership with Generate Capital following an initial financing in 2021 that enabled us as team to prove GrowUp’s energy-efficient growing system and start converting a five-acre brownfield site into the equivalent of 1,000 acres of grade 1 farmland in Kent.
And this cash injection back in 2021 helped us to achieve our vision of being the first vertical farm to supply branded, bagged salads to the country’s largest supermarket chain, Tesco, and to Iceland, SPAR, as well as other major food service customers.
Our CEO Marcus Whately has welcomed the latest round of funding from Generate Capital, a $10 billion sustainable infrastructure investor saying:
“We partnered with Generate Capital because, as a $10 billion sustainable infrastructure investor with a mission to ‘rebuild the world together’, Generate Capital aligns with our ethos. With Generate Capital’s support, we have proved that vertically farmed salads are sustainable, cost competitive, and commercially viable, as well as tasty, healthy and long lasting. Together we can unlock a new salad category and meet growing consumer demand.”
The future looks bright for GrowUp and our best-selling salad brands.