A futuristic farming startup raised $260 million from Jeff Bezos and SoftBank on the promise of upending agriculture. Insiders are raising questions.
has raised $260 million from investors, including Jeff Bezos and SoftBank, to transform agriculture with a type of indoor tech known as vertical farming.
Indoor farming has gained traction in recent years, seen as a potential way to feed more people more efficiently. But the industry has faced some challenges. Four of the insiders said they had felt unsafe at work on more than one occasion. The people, who signed confidentiality agreements, declined to be named for this story.
Matt Barnard, Plenty's CEO, told Business Insider that Plenty's electrical systems were developed with worker safety in mind. He said Plenty uses electrical infrastructure designed for wet environments. The company believes the workers concerns are unfounded, and Plenty confirmed that there has never been an electrocution on its premises.According to five of the people, several versions of Plenty's food-growing technology didn't work.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Plenty of substance, little drama at first open impeachment hearingAnalysis: The first two witnesses called Wednesday testified to President Trump's scheme, but lacked the pizzazz necessary to capture public attention.
Read more »
Inside Alibaba's extravagant shopping gala that racked in $38 billion - Business InsiderThe Alibaba Group announced that this year's Singles' Day event broke last year's record of $30.7 billion.
Read more »
Inside Alibaba's extravagant shopping gala that racked in $38 billion - Business InsiderInside Alibaba's insane global shopping gala which brought in a record-breaking $38 billion and featured Taylor Swift, Kim Kardashian and Game of Throne's-themed whiskey
Read more »
Apple Card under fire for alleged discrimination - Business Insider - Business InsiderApple Card is under fire for alleged discrimination – some husbands received greater credit limits than their wives despite shared financial accounts.
Read more »
Starling has hit the 1 million account milestone - Business Insider - Business InsiderWhile Starling's total number of accounts may trail other big UK neobanks, it could have an edge over competitors due to the sustainability of its growth:
Read more »
SoftBank-backed delivery start-up DoorDash is reportedly being valued at $13 billion as it pulls in more cashDoorDash is among SoftBank's big bets out of its Vision Fund and one the Japanese conglomerate needs to pay off handsomely after the recent disaster at WeWork, which withdrew its IPO in September, and the ongoing public market struggles at Uber.
Read more »