# AppHarvest

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/appharvest

- Industry: Agribusiness
- Headquarters: Lexington, US
- Website: www.appharvest.com
- Total disclosed funding: $110M
- Latest round: Series C (Jul 24, 2020)
- Investors on record: 10

## About

AppHarvest, Inc. specializes in high-tech, sustainable agriculture solutions, focusing on large-scale greenhouse production to grow fresh, non-GMO produce year-round, addressing food demands while minimizing environmental impact.Founded in 2018 in Lexington, US, AppHarvest, Inc. is dedicated to providing innovative agricultural solutions through large-scale greenhouse operations. Jonathan Webb, the founder, has a significant background in sustainable agriculture. The company has completed 11 deals, and its most recent funding round was a VENTURE DEBT amounting to USD 15.00 mn on July 24, 2023, bringing the total amount raised to USD 48.99 mn.AppHarvest specializes in high-tech, sustainable agriculture solutions, primarily focusing on large-scale greenhouse production. Their core offerings center around utilizing innovative technologies and sustainable practices to grow fresh, non-GMO produce year-round, addressing the increasing demand for local food sources while reducing environmental impacts. The company employs advanced hydroponic systems and efficient resource management techniques to optimize crop yield and minimize water usage. AppHarvest's products cater to a diverse customer base, including retail grocery chains, food service providers, and wholesalers, primarily in the United States, with aspirations to expand their market reach internationally. The company's commitment to sustainability and technology-driven agriculture positions them as a pivotal player in the evolving landscape of food production.In 2021, AppHarvest generated revenue of USD 9.05 mn. The company reported an EBITDA of USD -157.42 mn in 2022. AppHarvest generates revenue through direct sales of its produce to retailers and food service companies, establishing a B2B model that emphasizes partnerships with grocery chains and restaurants. Transactions typically take place through supply agreements that ensure consistent delivery of high-quality produce, allowing clients to stock their shelves with fresh offerings. The company’s revenue structure includes volume-based pricing aligned with the quantity purchased, and seasonal pricing adjustments reflecting market demands. AppHarvest's flagship products consist of a variety of fresh vegetables, prominently featuring tomatoes and cucumbers, marketed under their brand to enhance consumer recognition and loyalty. This strategic approach to revenue generation underscores their focus on building long-term relationships with customers in the food supply chain.As of July 2023, AppHarvest, Inc. has discontinued its operations, thus halting any future growth plans, including product launches and market expansions.

## Funding rounds

- Series C, Jul 24, 2020, $28M — ValueAct Capital, Equilibrium Capital Group, Revolution Ventures, Endeavor Catalyst, Breyer Capital, S2G Ventures, Narya, Black Capital, Lupa Systems
- Series A, May 21, 2019, $82M — Equilibrium Capital Group, Revolution Ventures, Inclusive Capital Partners
- Seed, Feb 14, 2018 — Revolution Ventures

## Investors

- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed, Series A, Series C
- Equilibrium Capital Group (https://capitalatlas.ai/funds/equilibrium-capital-group) — Series A, Series C
- Inclusive Capital Partners — Series A
- ValueAct Capital (https://capitalatlas.ai/funds/valueact-capital) — Series C
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series C
- Breyer Capital (https://capitalatlas.ai/funds/breyer-capital) — Series C
- S2G Ventures (https://capitalatlas.ai/funds/s2g-ventures) — Series C
- Narya (https://capitalatlas.ai/funds/narya) — Series C
- Black Capital (https://capitalatlas.ai/funds/black-capital) — Series C
- Lupa Systems (https://capitalatlas.ai/funds/lupa-systems) — Series C