Funding Is Drying Up for AI-Run Vertical Farms
Venture capital firms put billions into the sector, then reality kicked in
AeroFarms' produce from its Newark site.
Photographer: Bryan Anselm/Redux/ReduxWelcome to The Brink. I’m Amelia Pollard, a reporter in New York, where I’ve been reporting on the struggles of vertical farms. We also have stories on Quebec’s public pension fund shying away from office properties and drug maker Mallinckrodt. Follow this link to subscribe. Send us feedback and tips at apollard18@bloomberg.net or Tweet/DM to @ameliajpollard.
The pitch for vertical farming had all the promise of a modern venture capital dream: a new way to grow crops that would use robots and artificial intelligence to conserve water, combat food insecurity and save the environment.