By Colin Kellaher


Walmart Inc. on Tuesday said it is investing in Plenty Unlimited Inc. as part of a partnership with the indoor vertical-farming startup aimed at bringing fresh produce to the retail giant year-round.

Walmart's investment is part of a $400 million series E funding round at an undisclosed valuation for Plenty being led by new investors One Madison Group and JS Capital.

SoftBank Group Corp.'s SoftBank Vision Fund, a previous investor in Plenty, is also participating in the round, which brings the South San Francisco, Calif., company's total funding to more than $940 million.

Plenty said it will use the new funds to support its growth strategy, including leveraging its platform to sell multi-crop farms directly to partners.

Walmart said its new partnership with Plenty will use the startup's indoor vertical-farming platform to deliver fresh produce to the Bentonville, Ark., company's retail stores.

Representatives of Walmart and One Madison will join Plenty's board.


Write to Colin Kellaher at


(END) Dow Jones Newswires

January 25, 2022 09:41 ET (14:41 GMT)

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