AppHarvest

Company

Investment-firm

Last deal

$46M

Amount

Post-IPO Equity

Stage

09.02.2023

Date

3

all rounds

$792.3M

Total amount

Financing round

General

About Company
AppHarvest is a sustainable food company that develops and operates high-tech indoor farms.

Industry

Sector :

Subsector :

Keywords :

founded date

01.01.2017

Number of employees

Company Type

For Profit

Last funding type

Post-IPO Equity

IPO status

Private

Description

AppHarvest's indoor farms in Appalachia utilize advanced technology to grow produce with up to 90% less water than traditional agriculture methods, while achieving yields up to 30 times higher. They currently operate several farms in Kentucky, producing tomatoes, salad greens, strawberries, and cucumbers. AppHarvest aims to supply fresh produce to major U.S. markets, reduce reliance on imported produce, and create employment opportunities in the region.
Contacts
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Money Raised

Their latest funding was raised on 09.02.2023. Their latest round Post-IPO Equity

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Acquiree Name 
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Price 
Acquisition Name 
Root AI acquired by AppHarvest

Root AI acquired by AppHarvest

acquirer

AppHarvest
AppHarvest

date

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type

Acquisition

price

$60M
Root AI

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Novus Capital acquired by AppHarvest

Novus Capital acquired by AppHarvest

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People

Founders
1
Jonathan Webb
Jonathan Webb

Jonathan Webb

A Kentucky native and University of Kentucky graduate, Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. The company is building some of the largest indoor farms in the world, combining conventional agricultural techniques with today’s technology to grow non-GMO, chemical-free produce to be sold to the top 25 U.S. grocers. The company’s first greenhouse will span 60 acres and open in 2020 in Morehead, Ky.The greenhouse will operate entirely on rainwater using a 10-acre retention pond, reducing water usage by 80% compared to a typical farm. Why locate in Appalachia? Like every Kentuckian, Jonathan grew up knowing of the devastating job losses in the region. His grandmother grew up in Whitley County, where a coal mining accident killed his great-grandfather. Jonathan strives to work alongside the hard-working men and women of Eastern Kentucky and build an inclusive economy for the future. By locating within Appalachia, the company is also less than a day’s drive to more than two-thirds of the U.S. population. That lowers transportation costs by 75%, allowing AppHarvest's fresher produce to better compete against low-cost foreign imports. Before founding AppHarvest, Jonathan worked with the U.S. Department of Defense on the largest solar project in the Southeastern United States. The project aimed to help achieve an Obama-era goal of ensuring the military’s hundreds of installations develop resilient on-site power generation and receive 20% of their electricity from renewable sources by 2025. While living in Washington D.C. developing sustainable energy farms, Jonathan researched another type of farming — the Netherlands and its high-tech greenhouses that in a single acre yield as much as 10 outdoor acres and virtually eliminate the use of chemicals. In February 2018, encouraged by investors, advisors including Hillbilly Elegy author J.D. Vance, and politicians of both parties, Jonathan left Washington and came home to Kentucky, where he now works tirelessly to make the eastern part of the state the AgTech capital of America.

current job

AppHarvest
AppHarvest

organization founded

1

Jonathan Webb

Employee Profiles
12
Tony Martin

Tony Martin

Chief Operating Officer

Joshua Lessing

Joshua Lessing

CTO

David Lee

David Lee

President & Board Member

Travis Parman

Travis Parman

Chief Communications Officer

Tony Beams

Tony Beams

Vice President of Finance

Daniel Breyer

Daniel Breyer

Investor

Seth Norat

Seth Norat

Chief Operating Officer

Jonathan Webb

Jonathan Webb

Founder & CEO

Activity

Recent News
8
News Timeline

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