80 Acres Farms: $160 million funding round secured to expand operations

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Orange Wings Investments

10 August, 2021|80 Acres Farms|Press Release|80 Acres Farms

80 Acres Farms 70k Grow

80 Acres Farms, a vertical farming producer, has secured $160 million in additional funding in a round led by General Atlantic and joined by Siemens Financial Services, the U.S. financing arm of tech company Siemens.

The company intends to use the capital for continued expansion and product development, building from its current footprint of vertical farms that yield a diverse offering of high-quality produce.

Thriving for impact
Mike Zelkind, CEO of 80 Acres Farms, said: “We are proud of what our team has been able to accomplish and enthusiastic about the road ahead. We are also honored to be supported by such a high-caliber group of strategic investors who are enabling us to continue to lead this evolving and fast-growing industry.” Mike said the investment is a quantum leap for the business to build more farms both nationally and globally.

80 Acres Farms is building an incredibly exciting vertical farming business that provides high-quality produce through innovative practices,” noted Shaw Joseph, Managing Director of General Atlantic.

Mike Zelkind and Tisha Livingston

Shaw said that with global food consumption increasing and growing threats impacting supply chains and food security, there is a pressing need for healthy, fresh and local foods that are grown in more sustainable and cost-effective ways. He added, “We look forward to working closely with Mike, Tisha and the broader 80 Acres Farms’ team as they scale.”

“The new investment positions the company as the leading proven and profitable technology provider prepared for rapid
expansion,” said Tisha Livingston, CEO of Infinite Acres, and Co-founder of 80 Acres Farms. “In addition, this enables 80 Acres to focus on their operational expertise and deep research and development capabilities beyond leafy greens.”

Combining capital and tech know-how
Jason Thompson, Vice President of Sustainability and Growth Equity at Siemens Financial Services, said, “We are committed to helping scale sustainable vertical farming technology. 80 Acres has demonstrated their ability to build and operate profitable farms.”

According to Jason, Siemens is enthusiastic about the opportunity to support its global expansion with both its capital and technical know-how. Including, their recently established Center of Competence dedicated to supporting companies in realizing their digital transformation.

“We are excited to be partnering with General Atlantic and Siemens to provide growth capital and support to Mike, Tisha and the entire 80 Acres team to help scale their operations within existing and new markets,” said Kayode Akinola, Head of Private Equity Directs at Blue Earth Capital.

New board member
As part of this funding round, Shaw Joseph will join the 80 Acres Farms board. Eli Aheto, former 80 Acres Farms board member, led BeyondNetZero’s contributions to this round. He noted, “I am pleased to be able to continue and grow my support of 80 Acres with this contribution from the BeyondNetZero team. 80 Acres has proven a farm design that is poised to reduce food miles, food waste and the resulting in negative carbon emissions that exist within our food supply chain.”

80 Acres Farms – Romaine

PIPP Horticulture Acquires Vertical Air Solutions


This acquisition solidifies Pipp’s position as the preeminent Mobile Vertical Grow Rack provider for indoor vertical farming and horticulture industries

December 10, 2020 – Walker, Michigan – December 10, 2020 – Pipp Horticulture (a division of Pipp Mobile Storage Systems, Inc., backed by Novacap) (“Pipp”), the leading provider of space‐saving, multi‐level mobile cultivation systems, announced today that it has acquired Vertical Air Solutions LLC (“VAS”). Based in Santa Cruz, California, VAS is a leader in providing air circulation systems and related products to the global indoor vertical farming industry.


“We are excited to welcome the entire VAS team, led by innovative entrepreneurs and powered by a dedicated group of employees, to the Pipp family of companies,” said Craig Umans, President and CEO, Pipp. “We have gotten to know the VAS team well in recent years, as they have been an integral part of our horticulture business, and their products are the ideal addition to our Mobile Vertical Grow Rack Systems. We look forward to integrating their leading technology into our continually expanding product offering to better serve the fast‐growing vertical indoor farming industry.”

“In 2017, when our ‘first of its kind’ airflow technology couldn’t fit into standard mobile racking configurations, Pipp Horticulture was prepared and willing to customize their system in order to accept ours. Our companies have since built a strong relationship and we’re excited to make the partnership official.” said James Cunningham, Founder of VAS. “We look forward to continuing our focus on innovation while providing top tier solutions for the vertical farming industry. Pipp’s 40 years of experience in equipment sales and manufacturing is exactly the support VAS needs in order to facilitate our growth into new markets.”

“The acquisition of VAS continues our mission of expanding our product offering to better serve the vertical farming industry. Pipp Horticulture brings a combination of the most knowledgeable and experienced Team along with the best products, competitive pricing and best in class customer service” said Craig Umans, President and CEO, Pipp.

About Pipp Horticulture
Pipp Horticulture is the industry‐leading provider of vertical farming and space optimization solutions. We work with commercial agriculture professionals globally, to design, install, and optimize operational spaces throughout cultivation, post‐harvest, manufacturing, and distribution facilities through the implementation of vertical and mobile rack and cart systems. The Pipp team
merges over 40 years of commercial mobile storage experience with horticulture industry experts with over 30 years of operational experience in commercial agriculture and seed‐to‐sale production. Pipp provides expertise, insight and network connections far beyond our mobile systems in support of our mission to augment financial performance and mitigate risk for our partners. For more information, please visit www.pipphorticulture.com

About Vertical Air Solutions
Vertical Air Solutions™️ leads the business of providing air circulation systems and related products to the global indoor vertical
farming industry. With a relentless focus on innovation in improving the efficiency and yield of its customers and an unwavering
commitment to stable and interdependent partnerships in its route to market, Vertical Air Solutions positions itself as a responsible, customer‐focused, responsive, and politically and socially involved player in the horticulture ecosystem. For more information, please visit www.vertairsolutions.com

About Novacap
Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long‐term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well-positioned to continue building world‐class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add‐on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 140 add‐on acquisitions. Novacap has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.

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