Little Leaf Farms, per a press release, has raised $300 million in new capital. The funding, per the announcement, is comprised of equity financing by The Rise Fund and debt funding from the Bank of America.
The announcement states that the new capital will be used to fund what they call "aggressive expansion of farms and distribution."
“This funding from our partners at The Rise Funds and Bank of America marks a pivotal moment in Little Leaf Farms’ growth story,” said Paul Sellew, Founder and CEO of Little Leaf Farms, per the release. “We’ve seen, especially in recent years, how important locally grown food is to communities, and we’re proud to bring customers the freshest leafy greens that are harvested with 90% less water than conventional lettuces and shipped in less than 24 hours. With this funding, we’re transforming the way millions of Americans eat and enjoy leafy greens, no longer relying on choices that have traveled thousands of miles across the country to reach them.”
Additionally, Maya Chorengal will join Little Leaf's Board of Directors. She is the co-managing partner of The Rise Fund.
“With this investment, we’re proud to extend Little Leaf Farms’ leadership in the market as it scales its business and continues to offer the best quality, reliability, and consistency to a growing customer base," Chorengel said per the release.