Bowery is a farming startup that uses technology to create more efficient ways to produce healthy foods in small spaces. The company combines technology with farming techniques to help improve the industry for growing edible foods in urban settings and more. If you have not yet heard about this enterprise, you're in the right place. Here are 20 things you didn't know about Bowery to bring you up to date.
1. Bowery puts a modern spin on agricultural processes
According to Crunchbase, Bowery is a farming company that uses modern techniques to improve the methods for growing foods. One of the goals of this company is to help growers to produce the most nutritious foods possible.
2. Bowery is a versatile company
Bowery is listed under five different categories in its registration on the internet. It is an agricultural company with an emphasis on farming. It is also listed in the food and beverage category, as well as under organic food because it helps growers to use new organic production methods. It is also listed under machine learning because of the technological advances that the enterprise has developed.
3. Bowery is a disruptor in the FinAg industry
Bowery has developed new techniques for creating indoor farms that feature ideal growing conditions for post-organic produce. It uses a proprietary software system called BoweryOS. The technology has the potential for disrupting the current FinAg industry because it is new, efficient, and holds tremendous potential for becoming a game-changer that revolutionizes the way that we grow crops. With the current growth that the company has experienced, it won't be long before more people who are interested in growing organic foods will hear about its innovations and start using them.
4. Bowery is a new tech startup
Bowery has only been in operation for six full years. It is entering its seventh year of business in 2021. The company was founded in 2014 by its three co-founders, Brian Falther, David Golden, and Irving Fain. Both Falther and Golden are first-time entrepreneurs with Bowery as their first business launch. Mr. Fain founded one other business before he helped to launch Bowery. All three of the co-owners bring unique knowledge and skill-sets to the table. Together, their combined expertise has helped in the creation of a useful, innovative, and highly successful business enterprise within the technology and agricultural sectors.
5. Bowery Farming has a 17-member executive team
Bowery has a fairly large group of top-notch executives leading the company forward into the future. Irving Fain is co-founder and the chief executive officer, leading the company. David Golden is a co-founder and serves as the head of finance and business operations. Carmela Cugini is the CRO of Bowery. Ryan Vilim is the senior data scientist. Clin Nelson is the executive vice president and chief SC officer. Katie Turrel is the head of talent acquisition. Leland Chamlin is the chief of staff and Paul Gauthier is the head of AcScience new product and system innovations.
6. Bowery has a four-member board of directors
Bowery is advised by a small board of directors that includes four active members. Hans Tung is a managing partner at GGV Capital and investor. He currently has five portfolio companies to his credit and he serves on twenty-four board and advisory committees. Spencer Lazar has 1 portfolio company to his credit and he currently serves on three board and advisory committees. James McCann is the chief executive officer of a company called Food Retail Ventures. He has one portfolio company to his credit and he currently serves on twelve board and advisory roles. Rob Hayes is a partner at First Round Capital with six portfolio companies to his credit. He currently serves on five board and advisory committees.
7. Bowery Farming uses complicated technology
There is an amazing 67 technologies that are actively at work to power the Bowery website. They're distributed over 18 technology products which include iPhone Mobile Compatible, SPF Viewport Meta, jQuery, Google Analytics, HTML5, and several others.
8. Bowery developed its technology
Although Bowery uses several products that were developed by other tech companies to power its website, it takes credit for the development of its tech products. This is one of the things that sets Bowery Farming apart from other tech companies of its kind. It has successfully registered three trademarks in the class of agricultural products and live animals. With its trademarks legally set in place, none of its competitors can use the same kinds of technology, nor can they copy the unique and innovative features that make Bowery stand out in the crowd. You can't get the same results from any other company because Bowery owns the intellectual property of the software and technology solutions that makes it different from the rest.
9. Bowery's web traffic is growing
Interest in Bowery's products and services is beginning to grow. The current amount of monthly visitors to the website is 25,088. The statistics for the site show that there is a growth of 2.23 percent in web traffic. This signals an increasing interest in the company. It is ranked as number 720,872 out of the millions of websites that are registered on the world wide web because of the number of monthly visitors to the site.
10. Bowery is gaining international attention
Bowery's web traffic origins give us some interesting insights into where the greatest interest lies in the company. The majority of viewers/visitors to the website are from the United States. It accounts for 66 percent of the web traffic with a current monthly visits growth of 2.59 percent. This is followed by France with an 8.79 percent growth rate making up five percent of the traffic. Indonesia also provides fiver percent of the web traffic with India providing the same. Just three percent of the visitors to the website are from the United Kingdom.
11. Bowery is a venture capital-backed enterprise
Bowery Farming receives funding from its investors. So far it has participated in five rounds of venture capital funding with the most recent closing on May 25, 2021. So far, Bowery has raised a total of $467.5 million from its investors.
12. Investor confidence is high in Bowery
We learned that Bowery Farming is backed by thirty-two investors who fully expect to receive a decent return on their investments. the most recent round was a Series C VC event that included General Catalyst and Lewis Hamilton. Six lead investors sponsored VC rounds of funding for the startup and were joined by the remaining investors. The high number of investors for Bowery shows how high the confidence level in its future success is.
13. Bowery has attracted celebrity investors
Other investors in Bowery include GGV Capital, Temasek Holdings, and Groupe Artemis. Other investors include Jose Andres, pop music sensation Justin Timberlake, actress Natalie Portman, Chris Paul, and others. These celebrity figures also believe that healthy and organic foods are important and worthy causes to strive for. They're willing to back the efforts of Bowery with investments that help the company to grow and expand and to make it possible for more people in the agricultural industry to use technology to advance the cause of healthy produce.
14. Bowery is a company with a vision
According to its official website, Bowery is a company with a vision for the future. A part of the mission of the startup is to create a world where there are positive changes made in the agricultural practices and methods that are good for the planet while producing healthy foods that give back to the people of the world with far more than it takes from the earth. They believe that changes can be made incrementally to reduce the carbon footprint that agricultural practices leave on the world.
15. Bowery is reimagining farming
Through its technology, Bowery is starting new trends in agriculture that are destined to change the way foods are farmed from the ground up. It is looking at new systems that can enhance sustainability in farming. The statistics that it has revealed are grim when it is pointed out that by the year 2050, seventy percent more food will need to be produced to keep up with the exploding population of the world. The estimates are for the population to grow to 10 million who will need to be fed. The current amount of food produced is not enough to feed everyone. The majority of people will live in urban areas. This is where farming needs to step up and happen even in urban areas. Indoor farming techniques hold the key to sustainability and Bowery is at the forefront of the battle to meet the needs before it's too late and we can't feed everyone that is born.
16. Bowery is about the preservation of precious resources
Leaders at Bowery realize that water is one of the most precious resources on the face of the earth. Our water supplies are endangered and things are only expected to get worse in the future. Water supplies are dwindling. Currently, seventy percent of the world's water supplies are used for agriculture. This is clean and potable water that is fit for human consumption. One of Bowery's goals is to make farming practices more sustainable by reducing the amount of water waste that takes place to help preserve our precious water supplies. This includes practices that do not rely on harmful chemicals that pollute freshwater resources. They've come up with a system for recycling, filtering, and reusing water for farming.
17. Bowery is building community-first farms
Another precious resource that is shrinking is available farmland. Due to changes in climate, growing populations, and pollution, the amount of available farmland has shrunk by thirty percent. Bowery has developed unique farming methods that allow for the ideal growing conditions for some crops to be achieved indoors in community first farms that are housed indoors in urban settings. High-quality and nutritious foods that are safe and healthy may now be grown in indoor farms.
18. Bowery is a civic-minded company
Bowery realizes that all companies and organizations that are working hard to create sustainable farming practices must band together to effect positive changes. Bowery stands firm in its commitment to support non-profit organizations that are involved with growing fresh fruits and vegetables and distributing them to the local communities. They support Table to Table of New Jersey, the Maryland Food Bank, Teens for Food and Justice, DC Central Kitchen, and others. Bowery is a profitable company and it funnels profits back into the local communities that are partnering with the firm to help make a difference in agriculture.
19. Bowery is expanding its workforce
According to LinkedIn, Bowery currently employs 273 people in its workforce. The company is set for a major expansion. We noticed on its LinkedIn account that there are 45 job positions open in the organization. There are jobs available with the company in Oregon, Maryland New Jersey, Pennsylvania, New York, and at many other locations throughout the United States. This is a company that is growing and expanding in its efforts to change the way that farming is practiced throughout urban America.
20. Bowery is a unicorn company
According to a recent press release, Bowery has achieved unicorn status. This is an elite group that companies join when they achieve a valuation of at least $1 billion or more. The most recent round of venture capital funding that closed on May 25, 2021, raised an additional $300 million which pushed the farming tech giant to a new valuation of $2.3 billion in the round led by Fidelity. This is an all-time high and it shows that investors put their confidence in the right place. Bowery is still a privately held operation that continues to receive VC funding with no plans discussed for going public.
Written by Dana Hanson
Read more posts by Dana Hanson