[11 May/Food Dive]

A growing number of start-ups in the U.S. and around the world were raising produce inside buildings to reduce water use and transportation costs. These growers were finding real estate, energy and labour costs to be high, according to an Associated Press story in Food Manufacturing. Once all inputs are in place, the harvest may be locally grown but the prices they attracted were not always enough to cover expenses. Indoor-farming enterprise, Plenty, raised USD200 million last year which was the largest ag-tech funding round to date. Plenty’s CEO, Matt Barnard, said less expensive power was needed to make indoor farms sustainable. He noted that they believed society should consider investing in the new form of agriculture in the way it invested in agriculture in the 1940s.