AmplifiedAg has completed $40 million in equity financing. The funding will be used to continue the expansion of its container farms, Vertical Roots, and the development of its operating system, AmpEDGE™.
"Our ability to scale our indoor farms and technology is leading to discussions with strategic and financial partners. We expect to consummate additional financing later this year to further accelerate Vertical Roots' presence across the country," said Don Taylor, CEO of AmplifiedAg.
The current round of funding will support the installation of farms in north and central Florida, extending Vertical Roots' dominant position as the leading CEA and vertical farming business in the southeast market.
Taylor added, "We're dually focused to deploy Vertical Roots farms across the country as close to the point of consumption as possible while advancing and expanding AmplifiedAg's global network of proven technologies and farms to others in the CEA industry."