AeroFarms grows microgreens and leafy greens indoors using aeroponic technology, operating from the Cane Creek Centre site outside Danville, Virginia. The company describes itself as the U.S. leader in retail microgreens, which are sold in about 2,000 stores including Whole Foods Market, Harris Teeter and Costco. Founded in 2004 and originally headquartered in Newark, New Jersey, AeroFarms passed through Chapter 11 in 2023 under a group of existing investors and was acquired by an affiliate of the family investment office Palm Ventures in April 2026, a transaction the company said sharply reduced its debt.
AeroFarms has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2004
Employees
51–200
Total Funding
$361.5M
10 rounds
AeroFarms confirms sale to an affiliate of family investment office Palm Ventures; deal closed April 2026, terms undisclosed, company debt sharply reduced.
New control and a new chief executive; pre-deal equity positions restructured.
Gustavo Burger (ex-Kraft Heinz, ex-AB InBev) installed as CEO under new Palm Ventures ownership.
CPG-veteran leadership signals an operational turnaround focus post-distress.
Closed Danville-Pittsylvania VA facility, terminated all 173 employees Dec 19, 2025 after largest investor withdrew funding; later sold to Palm Ventures.
Signals severe liquidity distress preceding the Palm Ventures sale; prior equity likely impaired.
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Rounds in grey italics are unconfirmed.
Total raised $361.5M across 10 rounds
Last updated 09-23-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Aug 7, 2025 | Equity financing Press release | — | — | Not disclosed |
| Apr 9, 2024 | Series B-1 | $5M | — | Not disclosed |
| Sep 18, 2023 | Recapitalization - Series A/A-1/B Preferred Press release | $70.8M | — | Grosvenor Food & AgTech |
Gustavo Burger
Chief Executive Officer
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