Amazon’s Jeff Bezos-Backed Vertical Farming Venture, Plenty, Files for Bankruptcy

In a significant turn of events within the agriculture and technology sectors, Plenty, a vertical farming company co-founded by billionaire Jeff Bezos, has filed for bankruptcy. The company, which was once seen as a pioneer in the sustainable food movement, failed to navigate the complex and competitive landscape of urban agriculture, leading to this recent development.

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Farming Startup Plenty Faces Valuation Challenge Amidst Talks of Major Cut

Plenty, an innovative player in the indoor farming sector, is reportedly in negotiations that could lead to a dramatic reduction in its valuation, potentially exceeding 90%. This development comes as the company navigates a challenging economic landscape while attempting to secure new funding to sustain its growth trajectory.

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