Recruit Invests in Plenty, Inc., Which Makes Indoor Farms a Reality with its Unique Vertical Farming Technologies
Nov. 07, 2017
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Masumi Minegishi; referenced below as "Recruit") has invested in Plenty Unlimited, Inc. (Head Offce: South San Francisco, USA; CEO: Matt Barnard), which makes high-productivity/low-cost indoor farms a reality with its unique vertical farming technologies, through its investment subsidiary RSP Fund No. 6, LLC.
1. Purpose and Background
Farming is now typically conducted on a massive scale in the countryside, with the longer transportation times, high wastage rates, and deterioration of the quality of the produce due to complex supply chains becoming serious issues in the industry. As a solution for these issues, as well as the depletion of arable land globally, innovations in agriculture that utilize cutting-edge technologies are expected.
Through this investment, Recruit will work with Plenty Unlimited, Inc., which manages vertical indoor farms that utilize proprietary growing systems, sensors, and AI technology, to expand its business, and support the generation of new business opportunities through the harnessing of these technologies. Plenty Unlimited, Inc. plans to use this investment to accelerate the deployment of indoor farms, as well as develop new products.
2. Overview of Plenty Unlimited, Inc.
Plenty Unlimited, Inc. manages indoor farms that can grow produce at the required volume at the required time by utilizing proprietary growing systems, sensors, and AI technology to create the optimal growing environment for each product, as well as distributing and selling the produce. The company holds many patents, and its unique vertical farming technologies have dramatically improved yield per acre, wastage, and harvest cycles, raising crop yields to a maximum of 350 times that of conventional farms, which makes large-scale farming in urban areas possible. This in turn achieves less spoilage through shorter transport times, reductions in production costs, and a stable supply that is not dependent on the seasons.
| (1) | Company Name | Plenty, Inc. |
| (2) | Representative | Matt Barnard |
| (3) | Address | 582 Eccles Ave, South San Francisco, CA 94080 |
| (4) | Established | August 2014 |
| (5) | Main Business | Production of produce in indoor farms using vertical faming technologies combining sensors, robots, and AI; distribution and sales |
| (6) | Website | https://www.plenty.ag |
3. Overview of RSP Fund No.6 LLC
The fund aims to discover new technologies and new business models, and to acquire business opportunities which are relevant to new business development for the Recruit Group.
| (1) | Company Name | RSP Fund No. 6 LLC |
| (2) | Representative | Akihiko Okamoto |
| (3) | Address | 8-4-17 Ginza, Chuo-ku, Tokyo |
| (4) | Established | November 12, 2014 |
| (5) | Main Business | Investment development and venture capital |
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