London-based vertical farming technology firm Vertical Future is on the brink of insolvency after posting over £10 million in pre-tax losses and listing itself for sale on an insolvency marketplace. Revenue plummeted to just £692,000 in 2024, down from £6.7 million in 2023, triggering a strategic review and efforts to find a buyer.
“Vertical Future can confirm that it has engaged advisors to explore strategic options for the business, including a potential sale,” the company said in a statement. “Like others in the vertical farming sector, we have faced significant headwinds in a difficult capital environment.” The company is currently supporting customers while evaluating its next steps.
From Promising Growth to Financial Collapse
Founded in 2016, Vertical Future had raised over £37 million from investors including SFC Capital, Pula Investments, and angel investors like UK philanthropist Gregory Nasmyth.
A £21 million Series A in 2022 valued the company at approximately £100 million. Despite multiple share issuances through 2023, efforts to raise an additional £60 million for scaling infrastructure failed. Rising energy costs, operational overhead, and declining demand for premium produce proved unsustainable.
While the company has not formally entered administration, changes to its registered office and board appointments in July 2025 suggest a significant governance shift as part of a potential sale or restructuring.
Vertical Future initially grew high-end crops for restaurants but pivoted to selling automated vertical farming systems and proprietary software (DIANA) for clients in retail and pharmaceuticals. The software platform was built to optimize plant growth using machine learning and data analytics. This shift aimed to improve margins by replacing labor-intensive production with scalable automation.
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Investor Nickleby Capital noted that the business model pivot was a response to “poor unit economics” in produce sales. But the transition came too late, and cash flow constraints prevented scaling or attracting new clients in time.
Despite its financial troubles, Vertical Future remained publicly active. It presented at COP28 in Dubai as a partner of the World Green Economy Organisation and met with Iraq’s Prime Minister in May 2024 to discuss deploying autonomous systems to address food security.
These international engagements aimed to position the company as a leader in sustainable food production. CEO Jamie Burrows had previously criticized “capitalist-led” vertical farming models for their unsustainability, portraying Vertical Future as a more resilient alternative — a claim ultimately undone by its financial unraveling.