Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Planet Farms Cultivates $40 Million to Sprout Innovation in Vertical Farming

Milan's visionary vertical farm trailblazer, Planet Farms, has reaped a staggering $40 million
By Josefina Dipaolo
November 24, 2023

In a groundbreaking green venture, Milan's own vertical farm pioneer, Planet Farms, has reaped a bountiful harvest of $40 million in funding, soaring to a valuation of an impressive $500 million. This green giant, fueled by a total funding infusion of $140 million, is set to redefine the landscape of sustainable agriculture. Join us as we uncover the growth plans that promise to make Planet Farms a towering force in the world of vertical farming.

With fresh funding in its coffers, Planet Farms is sowing the seeds of expansion in Italy and the UK. The company is on the verge of unveiling a state-of-the-art facility in Cirimido, Italy, boasting a sprawling 20,000 sq. mt. growth area, solidifying its position as one of the largest vertical farms globally. This new venture not only marks a milestone in technological innovation but opens avenues for exploration in consumer goods, perfumery, and cosmetics sectors.

In the UK, Planet Farms has already set the wheels in motion, introducing its produce to major GDO chains and laying the groundwork for a cutting-edge facility north of London. This upcoming facility, slated to be operational by the second half of 2025, epitomizes the fusion of technology and sustainability, embodying the core values of Planet Farms.

Founded by visionaries Daniele Benatoff and Luca Travaglini in 2017, Planet Farms doesn't just grow vegetables; it crafts a symphony of flavors by meticulously selecting superior seeds. Leveraging advanced technology, the company cultivates pure varieties that thrive in controlled environments, ushering us back to the essence of traditional flavors. This isn't just farming; it's a sustainable solution to urbanization, food safety, water scarcity, land use, and traceability challenges faced by traditional agriculture.

Currently, Planet Farms operates a vertical farm and research facility near Milan, producing a delectable array of arugula, baby leaf lettuce, salad mixes, and basil. With a grand vision, the company eyes a turnover of $50 million by 2025, propelled by the establishment of two new factories in Cirimido and the UK.

Planet Farms isn't merely cultivating crops; it's sowing the seeds of a sustainable agricultural revolution. As the company expands its footprint in Italy and the UK, it's redefining the future of farming. Daniele Benatoff, the co-CEO, envisions not just growth in traditional sectors but is venturing into high-impact crops like cotton and coffee. The journey of Planet Farms isn't just about meeting demand; it's about nourishing a future where agriculture and sustainability coexist harmoniously.

More about: 

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram