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Bowery is named to the 2023 XB100 by XPRIZE and Bessemer Venture Partners

June 20, 2023

Bowery, one of the largest US vertical farming companies, serving more than 1,800 grocery stores and major e-commerce platforms, has been named to the inaugural XB100, the definitive ranking of the top 100 private deep-tech companies, published by XPRIZE and Bessemer Venture Partners.

Bowery has demonstrated product-category leadership with the continued broadening of its innovative, pesticide-free portfolio including high-demand items like salad kits. The company increased its retail footprint by over 15x between 2020 and 2023, all while growing more with less. Bowery’s farms are powered by 100% renewable energy.

“At Bowery, we are developing technology to reinvent a fresh food supply chain that is shorter, safer, provides more surety of supply, and is more sustainable,” said Irving Fain, Founder & CEO, Bowery. “Agriculture is one of the oldest and largest industries in the world and the second largest contributor to GHG emissions globally. There is no path to net zero that doesn’t lead through reinventing Food and Agriculture. This is a necessity to feed our growing population in an increasingly uncertain world, and I’ve never been more optimistic about what’s ahead.”

The XB100 was launched to celebrate the entrepreneurs who are commercializing scientific research into deep tech and spotlight how they are impacting our society across nine categories. The XB100 evaluation process involved ranking companies across four factors: impact on humanity, valuation, scientific difficulty, and commercial traction. For impact on humanity, XB100 enlists the help of a judging panel of scientists and industry experts who assist in the evaluation.

“The companies on the XB100 list represent the most valuable and impactful private companies in the deep tech sector,” added Tess Hatch, Partner at Bessemer Venture Partners. “The XB100 awardees defy imagination and will reshape the human experience.”

“Investments in the commercialization of scientific research propel humanity forward,” said David Cowan, partner at Bessemer Venture Partners. “After years of investing in deep technologies ranging from quantum computing to rocket technology to next-generation biotherapeutics, Bessemer has marveled at the potential of XB100 companies to tackle profound problems facing our species and our planet.”

“We’re honored to recognize the innovators featured on the inaugural XB100 and their important impacts on society,” said Anousheh Ansari, CEO of XPRIZE. “As we work to empower problem-solvers around the world to address humanity’s greatest challenges, XPRIZE celebrates these great minds and our collective impact.”

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