GrowUp, Leading UK Vertical Farm, Secures £38 Million Investment from Generate Capital to Expand Local Production of Pesticide-Free Green
Today, Generate Capital, a prominent sustainable infrastructure investment and operating company, has announced a substantial £38 million investment in GrowUp, the UK’s leading vertical farm renowned for its popular ready-to-eat salads. This investment aims to meet the increasing demand for GrowUp’s produce.
Generate Capital’s investment will facilitate the expansion of GrowUp’s capacity at its Kent-based vertical farm. It will also accelerate GrowUp’s leadership in the UK salad category, supporting brands like Unbeleafable and Fresh Leaf Co., driving research and development at GrowUp’s Leaf Lab in Cambridge, and strengthening GrowUp’s influence as a certified B Corp.
This funding builds upon Generate Capital’s previous partnership with GrowUp, which began with initial financing in 2021. This support enabled GrowUp to demonstrate its energy-efficient growing system and initiate the transformation of a five-acre brownfield site in Kent into the equivalent of 1,000 acres of grade 1 farmland. Notably, GrowUp became the first vertical farm to supply branded, bagged salads to major UK retailers such as Tesco, Iceland, and SPAR, alongside other significant food service clients.
Marcus Whately, CEO of GrowUp, expressed enthusiasm about the investment: “This investment is a tremendous endorsement of GrowUp’s team, passion, and capabilities. We chose to partner with Generate Capital because of their $10 billion commitment to sustainable infrastructure and shared mission to ‘rebuild the world together’. With their support, we’ve proven that vertically farmed salads can be sustainable, cost-effective, and commercially viable, while also offering exceptional taste, nutrition, and longevity. Together, we aim to unlock new opportunities in the salad category and meet the growing consumer demand.”
Scott Jacobs, CEO and Co-founder of Generate Capital, highlighted GrowUp’s rapid growth and innovation: “GrowUp is one of the UK’s most innovative and exciting vertical farming ventures, experiencing nearly 800% year-over-year sales growth. Their ability to quickly gain the trust of major UK retailers underscores the appeal of their product range, the strength of their team, and their responsiveness to increasing consumer demand for locally grown, pesticide-free greens.”
Eduardo Clemente, Managing Director at Generate Capital, added, “Since our initial investment in 2021, GrowUp has demonstrated that producing superior, sustainable leafy greens at scale and competitive prices is achievable. Their success in securing significant interest and volumes from leading UK retailers within a short timeframe is a testament to their value proposition and operational excellence.”
With this new investment, GrowUp is poised to further advance its mission of decarbonizing the food system while delivering nutritious, affordable, and sustainable greens to consumers and food manufacturers across the UK.
