Mike Gupta joins Plenty
Former CFO of Twitter, Mike Gupta joins farming startup Plenty, that is backed by SoftBank Group.
Twitter Inc.’s former chief financial officer has joined Plenty Inc. in that role as the indoor farming startup prepares for international expansion and improvements to its vertical growing technology.
Mike Gupta helped take Twitter public in 2013 and left for Docker Inc. two years later. Earlier, Gupta was treasurer at gaming company Zynga Inc., helping to lead its initial public offering, and had previously spent about eight years in various roles at Yahoo.
“It’s not new for me to be in hypergrowth companies that are entering unchartered territory,” Gupta said in an interview. “This is a very capital intensive business so having someone who can think about how we raise and deploy capital in the long run will be very important.”
The startup is in the process of building a new version of its farms, called Tigris. Matt Barnard, a co-founder and chief executive officer of Plenty, said that the new farm will be able to produce more than 40 times the amount of leafy greens that its current farms can grow, while using less energy. Plenty aims to roll out Tigris later this year.
The company currently has 200,000 square feet of indoor space in south San Francisco, but is only using a small portion for produce it sells. The majority of the space is used for testing and research and development. Plenty, which has been delivering produce in the Bay Area since June 1, sells its its food online and in neighborhood grocery stores.
Indoor, vertical farming allows Plenty to use a fraction of the water and land traditionally needed to grow beautiful and bountiful crops. So not only will your tastebuds thank you, but the world will too.
They build their farms minutes from where people live, so their produce is only a short drive from your favorite store or restaurant. Plenty can harvest and deliver produce as quickly as the same day, which means their produce is fresher, has longer shelf life and shorter food miles.