Masayoshi Son has discovered a green thumb.
The SoftBank Group Corp. chief’s Vision Fund is leading a $200 million investment in Silicon Valley startup Plenty, which says it has cracked the code on growing crops indoors super efficiently. Other participants in the round include Moore Capital Management founder Louis Bacon as well as existing backers such as DCM Ventures and funds that invest on behalf of Alphabet’s Eric Schmidt and Amazon’s Jeff Bezos.
This is Son’s first big bet on agricultural disruption and something of a departure from his recent investments in giant startups like office-space startup WeWork Cos. and Chinese ride-hailing provider Didi Chuxing, but he was attracted by Plenty’s potential to help boost food production near big cities.
“We believe Plenty’s team will remake the current food system to improve people’s quality of life,” Son said in an emailed statement.
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