Walmart Invests in Futuristic Vertical Farming Startup

While being more and more necessary over time, vertical farming was a concept that did not become mainstream as expected due to accessibility issues. However, it is getting more and more appreciated through Asian countries like Japan and Singapore where land is limited and technology is required to solve the issues with farming. As one of the biggest brick-and-mortar retailer companies in the US, Walmart announced that it is investing in a vertical farming startup called “Plenty” as a part of their “Series E” funding according to their press release. So, we can finally say that vertical farming is becoming more popular.

Credit: “Plenty” Press Kit

What is vertical farming?

As the name suggests, it is the practice of growing crops and doing farming over stacked layers in a protected small ergonomic environment. With a smaller unit of area requirement, it also saves a lot of resources in terms of heating the place, regulatory technologies, and energy. In addition to these advantages, since it is a very controlled environment, there is much less need for pesticides and other chemicals to grow the crops. When the technology first came out, most people addressed it as the future of farming. However, it had some accessibility issues since the products were usually sold in and associated with the high-end stores, making them also expensive.

Credit: “Plenty” Press Kit

What does this collaboration mean?

It basically solves the issue of accessibility, the only problem that vertical farming has. With enough funding and accessibility, the crops will be cheap and go mainstream. Thus, it will make this sustainable system more of a norm rather than an extra step at sustainability. It is also a nice step for making vertical farming spread within the US as most countries start to look more into solutions regarding sustainability. According to the press release, Charles Redfield, Chief Merchandising Officer, Walmart U.S. commented:

“We believe Plenty is a proven leader in a new era of agriculture, one that offers pesticide-free, peak-flavor produce to shoppers every day of the year. This partnership not only accelerates agricultural innovation, but reinforces our commitment to sustainability, by delivering a new category of fresh that is good for people and the planet.”

After Walmart’s metaverse investments, it is nice to see that the company is also trying to make a real-world sustainability solution in farming mainstream. While it is good to transform digitally, companies should not leave the real world behind the digital one. Innovation works when it is supported on both ends.