80 Acres Farms added Barclays as a strategic investor in the business, joining Virgo Investments, Orange Wings Capital, QuietStar Capital, and other family office investors.
Mike Zelkind, CEO of 80 Acres Farms, said: "There has been an explosion in demand for fresh, locally grown, nutritious food, and this investment round enables us to continue to meet that demand at the right unit economics. We look forward to developing our relationship with Barclays and their global network through our shared passion for enhancing sustainability in this industry."
Andrew Challis, Co-Head of Principal Investments at Barclays, said: "80 Acres Farms can shorten the vulnerable, carbon-intensive supply chain and secure retailers and consumers with consistent, safe, fresh, sustainably grown food. This is an exciting investment proposition for Barclays as it supports our clients' and consumers' transition to a low-carbon economy and underpins our ambition to take a leading role in tackling climate change."
80 Acres Farms operates eight indoor farms in the U.S., including a new state-of-the-art facility in Hamilton, Ohio - built by an affiliated company, Infinite Acres - that will deliver 10 million servings in its first year. 80 Acres' product of salads, tomatoes, cucumbers, herbs, and microgreens can be found at Kroger, Whole Foods, The Fresh Market, Dorothy Lane Markets, Jungle Jim's Markets, and key National Foodservice Distributors including Sysco and US Foods.
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