Mankind is all about surviving and adapting. And for a long while, we have grown and hunted our food, moving with the times and seasons. However, in the past few hundreds of thousands of years we’ve started growing things. And now, in the 21st century, we’re ever more committed to making our farming practices even more secure and reliable.
Naturally, it will always taka e bit of effort, but the payoff is quite significant. Bowery is now attempting to do something similar, developing the future of farming – and it’s indoors. Bowery has managed to add $90 million out of a funding round which the company expected wouldn’t exceed $200 million, making it one of the most significant achievements for the company in its history.
And Bowery most certainly doesn’t lack for competition in the sector, which is contested by many other companies. The potential trade-offs for the world are huge as well. An indoors farming environment can have huge potential benefits for mankind as it allow us to stop worrying about growing pesticides and killing plant viruses and other malaises that afflict the grown-food.
Estimated 700 million pounds of pesticides are produced worldwide and they can be cut short, which will help the environment significantly. Bowery is already growing its own crops in warehouses in New Jersey and it can guarantee its customers that their food is fresh out of the plant.
But the company has also managed to do quite a bit of things correctly, too. For instance, most start-ups die out before they reach their second year. Bowery has been around for three years now and that’s a sure-fire sign that the company is going the right way. No mistaking that. Now, the company has even expanded its work force to 65 employees, which is a significant increase in year-over-year acquisition.
With $90 million fresh on the table, the company may expand even further. It will need to add new storage units and also tighten up its security and control over the environment. Companies that produces pesticides aren’t happy that someone is effectively putting them out of business, although presently Bowery cannot feed a single district in the U.S. so mass-production plans are not immediate.
While the costs of pesticides will be cut out, new expenses will arise from growing food indoors, which is a tough challenge in itself, especially if it’s intended for mass production.
Growing stuff inside can be really difficult, but Bowery has managed to secure enough private equity and venture capital to guarantee itself a strong foothold in the competitive market. With the latest addition of $90 million, the company is quite read to keep scaling its successful model and make sure that it works.
The company’s definitely revolutionizing farming and what it needs is more private investors or any venture firm to back it in order to keep growing its clout. Of course, it will be a while before Bowery can farm kilometres of land.