As compared to traditional greenhouses, start-ups are relatively new with almost all players being no more than 10 to 15 years old. Since 2015, close to $6 billion has been invested in greenhouse and vertical farm start-ups in the U.S., with majority funding going to vertical farms (See Figure 10, Figure 11). An analysis of the 2021 sales of top 20 CEA SKUs in the U.S. is
weighted heavily towards greenhouse start-ups with an estimated market penetration above 90 percent 26 , indicating a higher product market fit for emerging greenhouses possibly due to competitive pricing and supply of product.
INVESTORS OF CEA START-UPS 1
Venture Capital
Private Equity Sovereign Funds Infrastructure Funds
Retailer
Source: Crunchbase, Roland Berger
Figure 10 (2/2): Vertical farms have raised more than $2.5 billion since 2015 26 Top 20 CEA SKUs by retail sales scandata latest 52 weeks US-XAOC | Nielsen
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