Plenty, the vertical farming company based in South San Francisco, has filed for bankruptcy after raising nearly $1 billion since its inception in 2014. The company announced it has secured $20.7 million in debtor-in-possession financing as part of a restructuring plan. Plenty will continue operations at its Virginia strawberry farm and Wyoming R&D center. This move follows a series of bankruptcies in the agtech sector, highlighting ongoing challenges. Notably, Plenty was last valued at $1.9 billion during a $400 million fundraise in January 2022.