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Plenty

Agritech/vertical farmingUSA
New to Unitard
πŸ’€ Dead / Bankrupt
PeakΒ $1.9 BillionToday
~-99%
from peak
  1. πŸ¦„
    Became a unicorn
    2017
  2. πŸ“ˆ
    Peak valuation
    $1.9 Billion ’22
  3. πŸ’”
    Became a Unitard
    Mar 2025
  4. πŸ’Έ
    Last valuation
    Wiped out
Capital raised
$941M
Total raised
$241K/day
Raised per day

Total raised averaged per day over approximately 10.7 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: Crunchbase/Tracxn via press
Current status
Chapter 11 (Mar 2025)

The rise & fall

6 moments Β· 2014–2025

The key moments.

2014
Founded
Vertical farms stacked in warehouses, promising fresher produce with a fraction of the land and water.
Wikipedia
2017
Joins the unicorn club on SoftBank money
The Vision Fund leads a $200M round β€” with Jeff Bezos among the backers β€” then the biggest agtech deal ever.
TechCrunch
Jan 2022
The peak: $1.9B Series E$1.9B
A $400M round with Walmart aboard values the farms at $1.9B, with Plenty greens headed for Walmart shelves.
Bloomberg
2023–24
Vertical farming dies around it
The same energy and capital costs that sank its peers prove unworkable, and sector funding evaporates.
Reuters
Mar 2025
Chapter 11 β€” joins the Unitard Club πŸ’”
After roughly $941M raised, a recapitalization values the shares under $15M; the Bezos-, SoftBank- and Walmart-backed farmer files in the Southern District of Texas.
Court filing
$1.88Bof peak value erased Β· 11 years

How it happened

Plenty built vertical farms backed by Jeff Bezos, SoftBank and Walmart, reaching a $1.9B valuation in its January 2022 Series E. The same vertical-farming economics that sank its peers β€” high energy and capital costs β€” proved unworkable. Plenty filed for Chapter 11 in March 2025 after a recapitalization valued its shares at under $15M.

Glassdoor reviews deteriorated sharply before the 2025 bankruptcy, with reviewers citing poor management and leadership and a lack of direction as ratings fell from four toward two.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—. See our methodology.

Source: S.D. Texas filing; Bezos/Walmart-backed

Where they went

  • Arama Kukutai
    CEO
    Managing Director at Putaiao Partners Ltd
    LinkedIn β†—
  • Matt Barnard
    co-founder & CEO (came from a farming family)
    Not on record
  • Nate Storey
    co-founder & chief science officer (agro-ecology and agronomy)
    Not on record

Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.

Disclosed investors (14)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

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Same fate Β· Chapter 11
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πŸ¦„