Walmart Inc. WMT, -2.13% announced Tuesday that it has taken a stake in Plenty Unlimited Inc., an indoor vertical farming company. Plenty recently conducted a $400 million round of Series E funding. Walmart’s investment will not only bring Plenty product to Walmart stores, but will give the retail giant a spot on Plenty’s board of directors. Plenty’s leafy greens will be in Walmart’s California stores later this year, sourced from Plenty’s Compton farm. Plenty’s proprietary technology aims to improve on the water and land use of traditional agriculture, grow multiple crops quickly, and reduce transportation and food waste by growing items closer to the consumer. Walmart stock is down 6.1% over the last 12 months while the Dow Jones Industrial Average DJIA, -1.11% has gained 9.7%.
