GrowUp secures £38m investment to support growth

The funding from infrastructure investment and operating company Generate Capital will help expand capacity at GrowUp’s Kent vertical farm, drive R&D at the producer’s ‘Leaf Lab’ site in Cambridge and support the Unbeleafable and Fresh Leaf Co brands.

GrowUp chief executive Marcus Whately said: “This investment is a fantastic boost to GrowUp and recognises the team's passion and talent. With Generate Capital's support, we have proved that vertically farmed salads are sustainable, cost competitive and commercially viable – as well as tasty, healthy and long lasting.”​

“Consumers want UK-grown, sustainable, longer-lasting leaves – grown without pesticides. With this further investment, we can expand production to meet demand and continue to transform UK food production.” ​

Longstanding partnership

This funding extends existing partnership with GrowUp, following an initial financing in 2021. The previous investment enabled GrowUp to prove its energy-efficient growing system and start converting a five-acre brownfield site into the equivalent of 1,000 acres of grade 1 farmland in Kent.

Generate Capital's chief executive and co-founder Scott Jacobs said: "[GrowUp’s] ability to quickly earn the trust of the UK's largest retailers shows the appeal of their product lines, the strength of their team, and their ability to meet rising consumer demand for healthy, locally grown food.​

"We look forward to working with them to keep accelerating the decarbonisation of the food system by providing nutritious, affordable and sustainable greens to UK consumers and food manufacturers."​

Branded, bagged salads

GrowUp is reportedly the first vertical farm to have supplied branded, bagged salads to the country’s largest supermarket chain Tesco, as well as Iceland, SPAR and other major food service customers.

“We've been growing for over 11 years now. We've come a long way with Generate Capital's support, since Kate Hofman and Tom Webster set up their first vertical farm in 2013, supplying salad leaves to London markets and restaurants,”​ added Whately.

Since its founding in 2013, GrowUp has secured more than £100m of investment and now operates 365 days a year from its purpose-built vertical farm in Kent. Once fully operational, the site will produce 1.4 million bags of salad per week.

Meanwhile, growing crops indoors could be key to ensuring the future of food security,​​ according to a new research project led by Aberystwyth University.