Soli Organic raises $125M to further expansion plans
Added on 20 October 2022
Soli Organic is one of the many indoor agricultural companies positioning itself to change the way people get access to fresh produce, but it isn’t a newcomer to the game.
Previously known as Shenandoah Growers, the company was founded in 1989. AgFunder News reported last year that it had 35% of the U.S. market for herbs. According to Soli’s website, the company currently serves 20,000 retail locations nationwide and is the top national grower of fresh, organic culinary herbs.
The company had been transitioning into greenhouses and indoor farms for years. The funds raised last year allowed Soli to move 90% of its production to its seven indoor facilities. The company then said it planned to build eight more farms. Soli announced the construction of a new 100,000-square-foot farm in Anderson, South Carolina in August 2021, and another larger farm to be built in Marysville, Washington in February. Production at the South Carolina farm is set to ramp up this month.
Photo: Organic greens and herbs grow inside Soli Organic’s revamped Elkwood, Virginia Biofarm. Courtesy of Soli Organic