Controlled Environment Agriculture

Following diminishing valuations in 2023 and layoffs, the indoor vertical grower is reportedly closing its doors and laying off its employees, according to a PitchBook report.

Kalera, a vertical farming company based in Orlando, Fla., filed April 4, for Chapter 11 bankruptcy, and the CEO stepped down. But leaders are making arrangements to continue regular operations throughout the process.

Vertical farms have sprung up all around the developed world since the first one was opened in Singapore in 2012. However, most still struggle with high energy use, putting their further expansion in question.

Greenhouses change the farming equation. They protect crops from weather while admitting sunlight. Farmers supply water, fertilizer as needed and crops flourish in locations where they would otherwise shrivel and die.