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Look at what's happening in Ukraine. Look at what's happening in the Middle East. Drones have changed modern warfare, public safety, and homeland security forever," Dedrone CEO Aaditya Devarakonda told CNBC on May 6, 2024, the day his startup was acquired by public safety company Axon. Public safety technology company Axon announced Monday that it is acquiring drone defense startup Dedrone. "And you can see what's happening around the world.

Persons: Aaditya Devarakonda, Dedrone, Rick Smith, CNBC's Morgan Brennan, Smith Organizations: Armed Forces, Ukraine, CNBC Locations: Lviv, Ukraine

☆ Drone startup Zipline hits 1 million deliveries, looks to restaurants as it continues to grow
▼ + stars: | 2024-04-19 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

Autonomous delivery drone startup Zipline said Friday that it hit its 1 millionth delivery to customers and that it's eyeing restaurant partnerships in its next phase of growth. The San Francisco-based startup designs, builds and operates autonomous delivery drones, working with clients that range from more than 4,700 hospitals including the Cleveland Clinic to major brands such as Walmart and GNC. The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents and delivered more than 10 million products. The push into restaurant partnerships marks an "obvious transition" he said, due to the continuing growth in interest in instant food delivery. Zipline deliveries for some Panera locations in Seattle are expected to begin next year, the Panera franchisee's chief operating officer Ron Bellamy told CNBC.

Persons: It's, Keller Rinaudo Cliffton, Rinaudo Cliffton, Ron Bellamy, I'm, Bellamy Organizations: Cleveland Clinic, Walmart, Sequoia Capital, a16z, Google Ventures, CNBC, Memorial Hermann Health Locations: San Francisco, Ghana, Seattle, Houston, Detroit

☆ EV charging for the U.S. freight trucking market is starting to scale
▼ + stars: | 2024-03-21 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Einride plans to open many EV charging stations for freight trucking on the West and East coasts, though California is the only state in which there are any EV freight charging stations of scale today. Voltera, which develops, owns and operates EV infrastructure, said the site was permitted, built, electrified and operational in under 18 months. "In the world of charging infrastructure, that's pretty remarkable," its CEO Matt Horton said in a statement. One of the first EV charging stations of scale for freight trucks is opening near the major ports of Los Angeles and Long Beach, California, as the trucking market takes some limited, but significant steps to build the infrastructure required for a long-term transition to EV trucking and net-zero shipping. Additional EV charging projects at ports in New York and New Jersey, as well as the Pacific Northwest, are planned.

Persons: NFI, Matt Horton, Robert Falck, Einride, Moller, Erik Neandross, —, Neandross Organizations: EV, West, Volvo, Southern California Edison, Maersk, CNBC, Pepsi, Walmart, U.S, California Air Resources Board, Department of Energy, Environmental Protection Agency, EPA Locations: East, California, Lynwood, America, Southern California, Ontario , California, U.S, Sweden, Einride, Los Angeles, Long Beach , California, Government, New York, New Jersey, Pacific Northwest, Shanghai, Chicago

Oura will now sell its smart rings on Amazon , its latest retail expansion as the health and wellness wearable space continues to grow. Starting Thursday, Oura will have its full selection of rings and accessories available to U.S. shoppers on Amazon through its own brand store. The move also comes as Oura faces a new challenge from Samsung in the smart ring category, as well as other wearables adding more health benefits. More than one million Oura rings have been sold to date, according to Oura. As for Samsung's potential entry into a ring, Sweeny said Oura is viewing it "as a positive thing."

Persons: Oura, Doug Sweeny, Sweeny, Fitbit Organizations: Best, Oura, CNBC Disruptor, Samsung, Apple, Garmin, Amazon, Google, Watch Locations: U.S

☆ Top Amazon aggregator Thrasio files for bankruptcy
▼ + stars: | 2024-02-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021. Thrasio, an early leader in aggregating Amazon sellers, filed for Chapter 11 bankruptcy protection in a New Jersey court Wednesday. Thrasio and other Amazon aggregators raised billions of dollars from investors looking to cash in on the third-party seller rollup craze. Aggregators bought up promising products and storefronts on Amazon, to use their data and operational expertise to turbocharge sales. WATCH: What's behind the big hype and billion-dollar aggregator start-ups buying Amazon seller brands

Persons: Prosper, Thrasio, Greg Greeley, Aggregators, Josh Silberstein, Carlos Cashman Organizations: Amazon, fizzle, CNBC Locations: Las Vegas , Nevada, New Jersey, Greeley

☆ 23andMe considers splitting up company to revive stock price
▼ + stars: | 2024-02-08 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Shares of 23andMe sank 21% on Thursday, a day after the genetic testing company reported dismal fiscal third-quarter results and discussed splitting itself in two to help juice its stock price. 23andMe reported revenue of $45 million for the quarter, down from the $67 million it reported in the same period last year. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company, a deal that valued the company at around $3.5 billion. The company has launched additional therapeutics and research businesses, but its share price has tumbled more than 95% from its peak. They lowered their target price for the stock to 85 cents from 90 cents.

Persons: 23andMe, Anne Wojcicki, Sergey Brin, Forbes, Joe Selsavage, Selsavage Organizations: TechCrunch, 23andMe, Nasdaq, U.S . Securities, Exchange Commission, CNBC Disruptor, Citi, CNBC PRO Locations: San Francisco , California, 23andMe

☆ Allstate, Allianz invest $265 million in Next Insurance in a big bet on insuretech
▼ + stars: | 2023-11-01 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market. "There's a massive opportunity with 30 million-plus small business owners in the U.S.," said Guy Goldstein, CEO and co-founder of Next Insurance. The commercial market is a much more complex one to transform digitally compared to personal lines where a generic application can be completed easily online. The small business market specifically is also one where owners often lack insurance expertise and internal finance staff to handle the policy decisions. "It's a $140 billion market but it is extremely fragmented," Goldstein said.

Persons: Guy Goldstein, William Blair, William Blair's, Goldstein Organizations: Allstate, Allianz, Next Insurance, CNBC Locations: U.S

☆ Bezos-backed freight firm Convoy shuts down after slashing hundreds of jobs. Read the CEO's memo to employees
▼ + stars: | 2023-10-19 | by ( Riley De León | ) www.cnbc.com time to read: +2 min

Dan Lewis, co-founder and CEO of trucking logistics startup Convoy and a former Amazon executive, speaking at the CNBC Technology Executive Council summit it New York City on Oct. 29, 2019. Digital freight broker Convoy told employees Thursday that it's shutting down operations due to a "massive freight recession." The move comes just one week after supply chain software startup Flexport said it will lay off about 20% of its own workforce. Seattle-based Convoy was founded to disrupt the fragmented, low-tech freight brokerage business, in which truckers and customers connected by phone and fax. According to a memo sent to employees Thursday morning, Lewis said the company faced both an "unprecedented freight market collapse" and "dramatic monetary tightening."

Persons: Dan Lewis, Baillie Gifford, Lewis Organizations: Convoy, Amazon, CNBC Technology, CNBC Disruptor, U.K, Hercules, JPMorgan, Microsoft Locations: New York City, Seattle, Convoy's, Atlanta

☆ How AI assistants are being positioned for everyday work and school life
▼ + stars: | 2023-10-10 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Experts predict the role of hotel concierge is a profession example of where analyzing decades of data and experience can allow an AI assistant to guide human workers to the best decisions. San Francisco was an obvious choice: "This is the epicenter, where all the work is happening," said Vijay Karunamurthy, Field CTO at Scale AI, which plays a key role in providing the data to AI companies whose large language models need to advance their exponential learning. "A couple of square blocks around our office in Mission, you have OpenAI, Google, Meta… pretty much everyone is flocking here. 1 predictor of success in a higher education program is the removal of life barriers. "A model that understands where you are in your journey and can understand those challenges and relate."

Persons: Alistair Berg, Digitalvision, VCs, CNBC's, Vijay Karunamurthy, Julia Boorstin —, Omer Davidi, Shah —, — Karunamurthy, Shah, Dan Rosensweig, ChatGPT, Chegg, … Organizations: Google, CNBC Senior Media, Tech, CNBC, Fortune Locations: San Francisco, Francisco, Mission

☆ Startup investors are fueling a boom in U.S. defense tech as China standoff opens doors at home
▼ + stars: | 2023-09-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Louie added that he doesn't "know of a single major fund out there that isn't thinking about disruptive tech investing in the U.S., investing in defense tech, investing in microelectronics and AI in the next generation and next iteration." Stephen McCarthy | Sportsfile | Getty ImagesVC funding in aerospace and defense tech has shot up in recent years, according to data compiled by PitchBook for CNBC. The poster child for U.S.-focused defense tech is Anduril Industries, co-founded in 2017 by Oculus Rift designer Palmer Luckey. They can just look at the untapped potential in defense tech. "The government's becoming a better customer," said Shah, who previously served as managing partner of the Defense Department's Defense Innovation Unit, which seeks to accelerate the use of emerging technologies.

Persons: Hadrian, Chris Power Hadrian, Joe Biden, Gilman Louie, Alsop, Louie Partners, He's, Louie, Biden, Lindsay Gorman, she's, Gorman, Chris Power, Power, Hadrian's, Peter Thiel's, Palmer Luckey, Stephen McCarthy, Sportsfile, Anduril, Richard Jenkins, Bilal Zuberi, Lux, Zuberi, Jenkins, Saildrone didn't, Paul Kwan, Catalyst, What's, Kwan, Kyle Harrison, Saul Loeb, Raj Shah, Josh Wolfe, There's, Shah, Wolfe Organizations: Chris Power Hadrian Automation, America's Frontier, U.S, Marshall Fund's Alliance, Securing Democracy, Lux Capital, Fund, Andutil Industries, Enercare Center, Getty, PitchBook, CNBC, Industries, Oculus, Blue Force Technologies, Oceanic, Atmospheric Administration, Navy, Coast Guard, Google, Intel, AFP, Shield, Lux, Defense Department's Defense Innovation Unit, Power, YouTube, China Locations: China, U.S, America, Torrance , California, Los Angeles, Toronto, Canada, Ukraine, New Albany , Ohio, Silicon

Amazon, the United States' second-largest employer, will now offer fertility and family planning services to employees through a partnership with Maven Clinic. The free offering will be available to more than 1 million eligible Amazon employees spread across 50 countries outside of the U.S. and Canada. The addition of Amazon to the company's partnership portfolio means an increase of about 7% in patients under Maven's care. The continued challenges around reproductive health care in the U.S. highlights why there has been strong corporate interest in partnering with Maven. What's more, a survey by Maven revealed that 71% of companies are considering adding or have added reproductive health benefits in the wake of the decision.

Persons: Maven, Oprah Winfrey, Mindy Kaling, Natalie Portman, Reese Witherspoon, Roe, Wade Organizations: Maven Clinic, Amazon, Maven, OB, CNBC Disruptor, CVS Health Ventures, Intermountain Health's VC, Microsoft, L'Oreal Locations: United States, Canada, America, U.S

☆ Fanatics and competitor Panini launch legal battle with a pair of lawsuits
▼ + stars: | 2023-08-07 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

The dispute comes down to licensing rights for professional sports league and their associated trading cards: Panini currently has the league and player union licenses to produce trading cards for the NBA and NFL. It's held those exclusive rights since 2009 and 2016, respectively. In its antitrust suit against Fanatics, Panini alleged that "Fanatics positioned itself to drive Panini and other potential competitors out of the market, and erected barriers to entry blocking their return." Fanatics claims Panini "embarked on a protracted, unlawful, and deceitful campaign of unfair trade practices, strong-arm tactics, and tortious misconduct to hamper Fanatics Collectibles' nascent business, in the hopes that it could force Fanatics Collectibles to pay an extortionate amount for Panini to terminate its licenses early." The move also helped to terminate a SPAC merger for Topps after it lost the MLB rights.

Persons: Brandon Igdalsky, Panini, countersued, It's, Silver Organizations: NASCAR, Pocono, Sports, NBA, NFL, Panini, International Olympic, MLB, Topps, Endeavor Group, Insight Partners, CNBC Disruptor Locations: Long Pond, PA

☆ Amazon's Whole Foods to triple shelf space for vertical farmer Bowery
▼ + stars: | 2023-07-25 | by ( Ophelia Anwah | ) www.cnbc.com time to read: +3 min

Bowery, a vertical farming company that grows crops indoors, is getting more shelf space at Amazon 's Whole Foods, with a deal to triple the stores stocking its salad kits. Currently, Bowery's salad kits and a selection of greens are carried at 50 Whole Foods Market stores in the Northeast. The deal comes amid challenges for both vertical farming and Amazon's efforts to expand its grocery footprint. The vertical farming industry, meanwhile, has been under pressure, like many formerly high-flying, heavily VC-funded startup niches. According to PitchBook, through the first quarter of 2023, vertical farming deals declined by 91% year-over-year.

Persons: Matt Williams, Zesty Caesar, Balsamic Vinaigrette, romaine, Andy Jassy, Jassy Organizations: Foods, Bowery, CNBC, Walmart, Albertsons, Westside, FreshDirect, Amazon Locations: Northeast, Westside Market, Brooklyn, East Coast, Florida, Virginia, Tennessee , North Carolina, Charlotte, Atlanta, Jacksonville, Miami

☆ MLB All-Star Game, baseball cards, are first big test of Fanatics livestream shopping experience
▼ + stars: | 2023-07-10 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

(Photo by Justin Berl/Getty Images)Fanatics' first livestream shopping event will feature collectors opening baseball trading card packs on the field during this week's Major League Baseball All-Star Game events in Seattle. The sports platform's new business division, which is called Fanatics Live, is centered around live shopping experiences during which users will be able to buy trading cards and other collectibles on the Fanatics Live app while watching streams of hosts and other collector sellers. "Our intention is to have Fanatics Live be the leader in the live commerce space," Bell said. Livestream shopping, which got its start in China and across Asia, has grown into a $512 billion market, according to Coresight Research. Bell acknowledged the challenges for livestream shopping in the U.S. but said he sees them as an opportunity.

Persons: Justin Berl, Nick Bell, Bell, — Bell, —, Chris Lamontagne, Scott Rogowski, Michael Rubin, – Bell Organizations: Pittsburgh Pirates, Milwaukee Brewers, PNC Park, Major League Baseball, Google, Mobile, Research, eBay, Facebook, QVC, U.S, Meta, CNBC Disruptor Locations: Pittsburgh , Pennsylvania, Seattle, U.S, China, Asia

☆ SoLo Funds, peer-to-peer loan platform for underserved banking consumers, is expanding to Nigeria
▼ + stars: | 2023-06-29 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +7 min

Expansion to Nigeria, Williams said, is a first step on the path to further international growth. In Nigeria, SoLo Funds has already connected with Paga, a mobile payment company, Platform Capital, an African investing firm based in Nigeria, and Endeavor, an entrepreneurial community network. SoLo Funds users have the opportunity to lend small amounts of money, ranging from $50-$1,000, to peers on the platform. That mission has not come without controversy, and allegations that SoLo Funds is creating a new form of predatory short-term lending. The complexity of lending regulation in the U.S. on a state-by-state basis has prepared SoLo Funds for the equally complex international launch.

Persons: Williams, Elon, " Williams, Rodney Williams, Travis Holoway, We've Organizations: Procter & Gamble, Visa, Intel, Synchrony, CNBC, Aspen Ideas, Platform, Endeavor, Google, NBCUniversal News Locations: Nigeria, Africa, America, Connecticut, California, Washington, United States, U.S, Latin America, Southeast Asia

☆ Fanatics holds second investor day as the company moves toward IPO
▼ + stars: | 2023-06-13 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Portrait for a profile on Fanatics founder & CEO Michael Rubin at his office in downtown NYC. Fanatics held its second investor day in nearly a year as the company quietly moves closer to an initial public offering, a source familiar with the matter tells CNBC. Investors were also treated to a surprise visit by football great Tom Brady, an investor in the company. Last November, Rubin gathered sell-side analysts for a meet-and-greet and to talk about his growth plans for the company. And in April, the company announced it was hiring Deborah Crawford from Meta to lead investor relations, a new position at the company.

Persons: Michael Rubin, Goldman Sachs, Tom Brady, Brady, Rubin, Deborah Crawford, Ness Organizations: CNBC, Barclays, NBA Players Association, Philadelphia 76ers, New Jersey Devils, NFL, NHL, NBA, MLB, Topps, CNBC Disruptor Locations: York, NY, NYC, New York, Florida, Meta, U.S

☆ The recycling idea at Levi's, Adidas, Zara to stop trillions in fast fashion from going to waste
▼ + stars: | 2023-06-11 | by ( Carolyn Chun | ) www.cnbc.com time to read: +8 min

The multi-trillion dollar fashion industry contributes significant greenhouse gas emissions, between 8% to 10% of total global emissions, according to the United Nations. With the majority of textiles in the fashion industry blended, it is harder to recycle one fiber without harming another. Spinnova partnered with the world's largest pulp and paper company this year, Suzano, to turn wood and waste into recycled textile fiber. Textile waste, by some measures, is a bigger issue than plastics waste, and it has a similar problem. Late last year it worked on a limited collection with fast fashion clothing giant — and consumer consumption flashpoint — Zara, using its recycled textile waste material.

Persons: LEVI, Alexander Donka, Paul Dillinger, Levi Strauss, Spinnova, Chloe Songer, Songer, Victor J, Levi's Levi Strauss, Dillinger, You've, we're, —, Stacy Flynn, Flynn, Levi's, Stella McCartney, — Zara Organizations: McKinsey, United Nations, McKinsey Sustainability, Co, Shoppers, Blue, Bloomberg, Getty, Adidas, CNBC Locations: Sweden, Africa, Zara, New York

☆ Nvidia invests in Google-linked generative A.I. startup Cohere
▼ + stars: | 2023-06-08 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +4 min

Cohere, an enterprise-focused generative artificial intelligence startup, has raised $270 million in a Series C round of venture capital which includes AI giant Nvidia as an investor. In the new Cohere round, Oracle and Salesforce were also investors. Cohere is one of the companies that the new Salesforce Ventures generative AI fund is investing in. "We want to build that toolkit that's accessible to any dev," co-founder and CEO Aidan Gomez told CNBC in June 2022. Nvidia founder and CEO Jensen Huang expressed confidence in Cohere, saying in a press release announcing the funding, "The team at Cohere has made foundational contributions to generative AI.

Persons: OpenAI, Cohere, Aidan Gomez, Gomez, Nick Frosst, Jensen Huang, DTCP Organizations: Nvidia, Oracle, Microsoft, CNBC, Google, Google Research, Inovia Capital, Schroders, Thomvest Ventures, Ventures Locations: CoreWeave, Cohere

☆ EV big rigs already make sense for half of the $4 trillion freight truck market, says Einride CEO
▼ + stars: | 2023-05-11 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +4 min

Swedish EV trucking startup Einride has been able to so far go toe-to-toe with Tesla and its Semi in attracting top corporate clients. "In the $4 trillion freight mobility space, between 40%-50% should be electric driven by the business case today," Falck said on CNBC's "Worldwide Exchange" in an interview on Thursday after his company ranked No. "In the near-term, of course, the business case for diesel becomes slightly better," Falck said in the April interview. In freight, unlike the consumer market, "it's not about range, it's about how to secure the business case," he said. Swedish electric vehicle maker Einride will supply two of its heavy-duty trucks to PepsiCo as part of an expansion into the U.K. Einride

☆ Drone maker Zipline, on track for 1 million deliveries, adds vitamins, pizzas and prescriptions to cargo
▼ + stars: | 2023-05-10 | by ( Carolyn Chun | ) www.cnbc.com time to read: +2 min

watch nowDrone technology company Zipline, which rose to prominence flying critical medical supplies like blood bags and vaccines over rugged terrain in Rwanda, has seen the commercial side of its business boom. Deals with Walmart, and a new drone design, are making Zipline a bigger player in the world of retail and home delivery, and not only in hard-to-reach places. On Wednesday, the company announced new delivery deals in the U.S., with nutritional supplement and wellness retail company GNC for Salt Lake City, and Seattle-area pizza chain Pagliacci Pizza for the greater Seattle metro area. Pagliacci and Zipline have created a new custom-designed pizza box to fit two 13" pizzas and side dishes in Zipline drones. Rinaudo Cliffton said that Zipline has already delivered in urban cities across the U.S. where people don't expect this technology to start.

☆ Use of small-dollar loans is up as inflation, credit crunch stretch wallets
▼ + stars: | 2023-05-10 | by ( Ian Thomas | ) www.cnbc.com time to read: +1 min

While the inflation trend took a welcome turn in the latest data, many shoppers are still dealing with historically high prices and sticker shock across the economy. The consumer price index, a key barometer of inflation, increased 4.9% in April compared to last year, marking the smallest annual reading in two years, according to the U.S. Bureau of Labor Statistics. Those challenges are leading many consumers to turn to alternative ways to access needed capital, especially consumers that historically have been underserved by the traditional banking system. Helping this underserved consumer segment was the impetus of SoLo Funds, which ranked No. The fintech firm acts as a peer-to-peer lending platform, letting would-be borrowers create a loan request and the terms, and put it on a marketplace where other individuals can fund those loans directly.

☆ Early MIT research shows 'Industrial Revolution-level large' leap for workers using ChatGPT, generative AI
▼ + stars: | 2023-05-10 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

He did say the time-saving component of the tech is among the things that struck him. I mean, the amount of time it could save you, if you were doing all kinds of things, is unbelievable," Buffett said. OpenAI CEO Sam Altman told CNBC's Julia Boorstin in an interview after being named the No. 1 company on the 2023 CNBC Disruptor list this year that the legal profession is a good example. "That is a pattern we're seeing again and again in many industries, and I'm super excited about it," Altman said.

☆ BeeHero: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

Enter agtech startup BeeHero with a solution. Last December, BeeHero snared $42 million in a Series B round led by impact growth fund Covent Capital in Amsterdam. But BeeHero is not the only startup providing honeybee pollution services, a market estimated by the USDA at $320 million annually. Last year, Limor Farchy, who previously worked at two acquired Israeli tech startups, was recruited as CFO. The agtech startup supplies several top almond growers in California and expects to expand to other crops that rely on pollination.

☆ Why ChatGPT developer OpenAI is the No. 1 company on the 2023 CNBC Disruptor 50 list
▼ + stars: | 2023-05-09 | by ( Julia Boorstin | ) www.cnbc.com time to read: +7 min

Microsoft unveiled new versions of its Bing internet-search engine and Edge browser powered by the newest technology from ChatGPT maker OpenAI. Of the 50 companies on this year's list, 21 told us that AI is critically important to more than 50% of their revenue. Half of the companies in the top 10 of the 2023 CNBC Disruptor 50 list feature key use of AI, and notably, they represent a diverse range of industries and use cases. OpenAI CEO Sam Altman speaks during a keynote address announcing ChatGPT integration for Bing at Microsoft in Redmond, Washington, Feb. 7, 2023. The call to slow down is, in fact, less safe than what they're proposing," he said, referring to OpenAI and Altman.

☆ Bowery: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

Founded in 2015 in New York City, Bowery is among several urban plant factories that are changing food supplies, and attracting substantial funding. The need to grow produce more efficiently, and closer to end markets, is represented in Bowery and the concept of vertical agriculture. Early last year, Bowery secured a $150 million credit investment from KKR & Co. Overall, Bowery increased its retail distribution 40% in 2022, with supermarket chains Albertsons, Giant Food, Walmart and Whole Foods on board. Almost a decade on from its founding, the idea behind Bowery remains novel, but skeptics say vertical farming remains closer to a DIY niche than a grown up, globally scalable agtech industry.

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