- 80 Acres Farms, a Greater Cincinnati indoor farming unicorn, has announced it will cease operations after 11 years in business, as stated by CEO and co-founder Mike Zelkind on Aug. 3.
- The company raised $400 million in venture capital but could not secure the necessary funds to continue its operations.
- 80 Acres Farms was known for its pioneering approach to indoor vertical farming, growing produce in controlled environments without pesticides.
- The company supplied produce to over 18,000 retail locations across the U.S., including major retailers like Kroger.
- As of 2022, 80 Acres Farms operated five permanent farms in Greater Cincinnati and additional farms in North Carolina, Alabama, and Arkansas.
- The company employed over 300 workers, primarily in the Greater Cincinnati area.
- Zelkind expressed gratitude towards employees and partners, stating, "We are deeply grateful to our employees, our retail partners, and the communities that have supported us."
80 Acres Farms, a pioneering indoor vertical farming company based in Hamilton, Ohio, is ceasing operations after 11 years, as announced by CEO Mike Zelkind on Aug. 3. The company, which raised $400 million in venture capital, struggled to secure the capital needed to continue its operations.123
"For a decade, our team has proven that vertical farming can work at scale – building and operating indoor farms that ultimately supplied more than 18,000 retail locations across the U.S.," Zelkind stated. The company was known for its innovative approach to growing produce in controlled environments without pesticides, supplying major retailers like Kroger across the Midwest.5
As of 2022, 80 Acres Farms operated five permanent farms in Greater Cincinnati and additional locations in North Carolina, Alabama, and Arkansas, employing over 300 workers. Despite the closure, Zelkind expressed pride in the company's achievements, stating, "We’re proud of our work, the problems we solved, and the fresh, clean produce that fed so many people." He emphasized the potential of vertical farming, saying, "We have seen vertical farming’s potential up close, and we still believe that this industry is just getting started, and that we have helped plant the seeds for generations of future harvests."67
The closure follows significant deals finalized last year, and while the company will not comment further, it leaves a notable mark on the industry, as highlighted by local supporters who recognized its impact on food production.
"Companies come and go, and most disappear without leaving much of a mark. This one is different," said a local restaurant owner who has used the farm's produce for years.
“CEO and co-founder Mike Zelkind said the Hamilton-based company could not secure the capital required to continue operating, despite its produce reaching more than 18,000 retail locations across the U.S. The shutdown affects more than 300 workers, most in Greater Cincinnati, and follows two major deals the company finalized last year.”
WKRC
