Failed 2023
AppHarvest
High-tech greenhouse farming in Appalachia couldn't compete on price with conventional tomato growers.
Founded → Closed
2018 → 2023
Funding Raised
$691M
Industry
AgTech/Farming
Country
USA
IdeaProof AI Failure Score
72/100
Market Fit Risk
40
Burn Rate Risk
85
Founder Risk
35
Full Analysis
AppHarvest built massive high-tech greenhouses in Kentucky to grow tomatoes sustainably. After going public via SPAC, the company struggled with crop yields far below projections, pest management issues, and logistics costs of shipping from rural Appalachia. Revenue was a fraction of forecasts while costs spiraled. Filed for bankruptcy in July 2023.
Could This Failure Have Been Prevented?
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