Lettuce farm in Devens raises additional funds
Little Leaf Farms in Devens has recently generated $300m in funding.
The Rise Fund led the round of financing, along with Bank of America, which provided debt funding. Co-Managing Partner of The Rise Fund, Maya Chorengel, will join the Board of Directors of Little Leaf Farms, which produces packaged lettuce.
The funds will be used by Little Leaf to grow and expand its farms in North Carolina and Pennsylvania and to boost its distribution channels so that its local lettuce will be more accessible to over half of the population of the country within four years.
In addition, Little Leaf is planning to open a new hydroponic greenhouse on 180 acres in McAdoo, Pennsylvania next month. This will be Little Leaf’s fourth greenhouse and, like the other three, it will be free of all fungicides, herbicides, and pesticides, and will expand the distribution of the brand throughout the Northeast.
The presence of the brand in the Northeast is expected to grow by 50% as a result of the opening of this farm, making its products available in over 3,500 grocery stores. Such stores can turn to flyer printing services to promote brands to their customers.
The technology of Little Leaf will be integrated into the new greenhouse with energy-efficient lighting, cooling, and heating; hands-free automated grow systems; and advanced data analytics. Little Leaf’s hydroponic technology grows lettuce under glass using natural sunlight and captured rainwater.
The Rise Fund led the round of financing, along with Bank of America, which provided debt funding. Co-Managing Partner of The Rise Fund, Maya Chorengel, will join the Board of Directors of Little Leaf Farms, which produces packaged lettuce.
The funds will be used by Little Leaf to grow and expand its farms in North Carolina and Pennsylvania and to boost its distribution channels so that its local lettuce will be more accessible to over half of the population of the country within four years.
In addition, Little Leaf is planning to open a new hydroponic greenhouse on 180 acres in McAdoo, Pennsylvania next month. This will be Little Leaf’s fourth greenhouse and, like the other three, it will be free of all fungicides, herbicides, and pesticides, and will expand the distribution of the brand throughout the Northeast.
The presence of the brand in the Northeast is expected to grow by 50% as a result of the opening of this farm, making its products available in over 3,500 grocery stores. Such stores can turn to flyer printing services to promote brands to their customers.
The technology of Little Leaf will be integrated into the new greenhouse with energy-efficient lighting, cooling, and heating; hands-free automated grow systems; and advanced data analytics. Little Leaf’s hydroponic technology grows lettuce under glass using natural sunlight and captured rainwater.