In July of this year, Japan’s richest man, Masayoshi Son, through Softbank’s Vision Fund, sparked a $200 million B-round funding round for Plenty, an agricultural technology startup based in San Francisco, California. The investment marked one of the largest in the agtech sector and signaled a growing interest in sustainable food production.
The initial meeting between Sun and Plenty’s founder, Matt Barnard, was expected to last just 15 minutes, but it stretched to over 45 minutes. Two weeks later, the deal was finalized. What made Plenty stand out? According to Sun, the company has the potential to boost crop yields in urban areas, transforming the global food system and improving quality of life.
Plenty specializes in indoor vertical farming, where crops grow on towers rather than in soil. When Sun first saw the towering structures being unloaded, he was taken aback by their unique design. The company aims to expand from Silicon Valley to major cities worldwide, including China, Japan, and the Middle East. Their goal is to establish 500 farms within 30 days, using less than 1% of land and water, no pesticides, and only synthetic fertilizers—delivering the freshest produce possible.
Vertical farming has become a hot topic in recent years. By 2017, investments in agtech had reached $4.6 billion in 2015 and $3.2 billion in 2016. In the first half of 2017 alone, early-stage agtech startups raised nearly $4.4 billion, a significant jump. Vertical farms, in particular, raised $198 million during that period—a 560% increase from the previous year.
Though the concept isn’t new, the idea of vertical farming dates back to 1999 when Professor Dickson Despommier at Columbia University proposed using rooftop gardens to feed Manhattan’s population. After realizing the limitations, he shifted to indoor vertical farms, laying the groundwork for what we now know as modern vertical agriculture.
Professor Despommier believes vertical farms can eliminate many traditional agricultural risks—droughts, pests, water shortages, contamination, and nutrient issues. While they won’t replace outdoor farming, they offer a promising solution for feeding the 21st century.
Plenty, which received its latest investment from Softbank, was founded in 2014 and claims to produce 350 times more per square foot than traditional farming. Its success reflects a broader trend: countries like Japan, the Middle East, and even Russia are investing heavily in vertical farming to overcome environmental challenges.
However, not all vertical farms have succeeded. FarmedHere, once the largest indoor farm in the U.S., shut down in 2020 due to high costs, particularly lighting. The main issue wasn’t just the technology—it was location. Three key factors—location, location, location—decided whether a vertical farm thrived or failed.
First, knowing your market is crucial. If you can’t sell your product, you shouldn’t grow it. Second, positioning the farm near consumers or distributors reduces the supply chain and increases efficiency. Third, the site must support the necessary infrastructure, such as power, ventilation, and disinfection systems.
Cost analysis shows that electricity and equipment make up the majority of expenses. In Japan, energy accounts for 20-25% of costs, while equipment depreciation takes up 30-35%. Labor and other operational costs also play a role. However, in China, where labor and land costs are lower, vertical farming could be more viable.
Andy Yu of GGV Capital emphasizes that vertical farms need both production and sales skills. Without strong distribution channels, even the best technology won’t succeed. Companies like Aero Farms partner with supermarkets and restaurants to ensure their products reach consumers.
Price remains a challenge. Though hardware costs are expected to decline, vertical farms still face competition from traditional agriculture. But with growing demand for fresh, sustainable food, the future looks promising.
As Softbank’s investment shows, vertical farming is no longer just a niche idea—it's a serious industry with the potential to reshape how we eat. Whether it becomes the next big thing depends on innovation, strategy, and execution. For now, the vision is clear: a world where food is grown closer to home, with less waste and more efficiency.
ELCB is an acronym for Earth leakage circuit breaker, which is a device placed inside a water heater, commonly referred to as ELCB electric leakage breaker. This circuit breaker has the function of disconnecting the device from the circuit whenever an electrical leak occurs through the human body when touching the electrical parts of the device.
ELCB is to limit the incident of electric shock inside the machine, disconnecting the power when there is a problem, ensuring safety for human life as well as fire and explosion prevention.
How many types of ELCB?
ELCB is often used in both civil and industrial applications.
For the domestic electricity system, the installation problem is not difficult, but in industry, the anti-shock for workers and the prevention of electrical leakage for electrical equipment with large capacity requires a bridge. Automatic anti-shock, high-power leakage protection, and often has a much higher price.
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