Companies · Agtech / Foodtech

Tomorrow Farms, PBC

NEW YORK · Agtech / Foodtech · refined from filed group “Other

Diligence memoA one-page analyst read on Tomorrow Farms, PBC — recommendation, valuation, rhythm, risks.
$13.0M
Total raised · real
2
Rounds
0.6×
Latest step-up
Top 19%
Sector rank · raised
Series A
Latest stage · inferred · Tue Feb 20 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Tomorrow Farms, PBC looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the agriculture sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.68× the median modeled value of Series A Agtech / Foodtech companies in 2022–2024 (35 peers) — value vs value, same stage and era.
  • Within the normal band (68% of peer median) for its niche.
At-risk
  • Last raise 2.4 yr ago; this sector typically re-raises about every 14 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Agtech / Foodtech

Tomorrow Farms, PBC is one of 481 Agtech / Foodtech companies tracked from NEW YORK. By capital raised it ranks in the upper tier (ahead of 82% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
6
Investors (latest)
2022
Year incorporated
2024-02-20
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeries A · 2022-05-05 Raised $8.3M (real) Modeled valuation $52M (est)$8.3M$52MSeries A2022Series A · 2024-02-20 Raised $4.8M (real) Modeled valuation $20M (est)$4.8M$20MSeries A2024+$4.8MCumulative $13M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$8.3M · 2022
Series A extension$4.8M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$19.7M
Base estimate est.
$6.1M
Conservative case
$46.2M
Upside case
$21.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the agriculture sector profile. Directional, not a quoted figure.

Series A · modeled $52.2M · 2022-05-052022Series A · modeled $19.7M · 2024-02-202024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.27×/yr
Annual markup
1.60×/yr upside case
2.4 yr
Elapsed time used
2.4 yr actual, capped for stale marks
agriculture
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
22 mo
Avg between rounds
$7.2M/yr
Capital velocity
4.2 yr
On record since
2022
First round
2
Rounds on file
How it compares to the market

Benchmarked against 481 companies in Agtech / Foodtech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 3.9× above median
This company$13.0M
Sector median$3.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.0× of median
This company$4.8M
Sector median$5.0M
Modeled value — vs sector median (estimate, all stages) 1.6× above median
This company$19.7M
Sector median$12.2M

Raised more than 82% of sector peers (real $). Modeled value above 68% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #23 of 35.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Change Foods, Inc. · Series A Raised $14.0M · modeled $93.6M (est)En-R-G Foods, Llc · Series A Raised $21.0M · modeled $93.2M (est)Farm Nashville, LLC · Series A Raised $15.0M · modeled $84.0M (est)RR Dairy LLC · Series A Raised $14.2M · modeled $78.6M (est)Gooder Foods, Inc. · Series A Raised $22.9M · modeled $64.9M (est)Hyfe Foods, Inc. · Series A Raised $13.0M · modeled $53.7M (est)Hedgehog Foods, Inc. · Series A Raised $12.8M · modeled $48.5M (est)Cella Farms Inc. · Series A Raised $8.0M · modeled $46.5M (est)AquaCultured Foods, Inc. · Series A Raised $7.7M · modeled $42.3M (est)Very Good Food Co Inc. · Series A Raised $6.5M · modeled $40.4M (est)Agronomed Capital LLC · Series A Raised $7.1M · modeled $39.4M (est)Verde Farms Holding, LLC · Series A Raised $10.0M · modeled $38.1M (est)Tomorrow Farms, PBC (this company) Raised $13.0M · modeled $19.7M (est)Tomorrow Farms, PBC
CompanyStageRaised · realValue · estvs peer med.
Change Foods, Inc.Series A$14.0M$93.6M3.26×
En-R-G Foods, LlcSeries A$21.0M$93.2M3.25×
Farm Nashville, LLCSeries A$15.0M$84.0M2.93×
RR Dairy LLCSeries A$14.2M$78.6M2.74×
Gooder Foods, Inc.Series A$22.9M$64.9M2.26×
Hyfe Foods, Inc.Series A$13.0M$53.7M1.87×
Hedgehog Foods, Inc.Series A$12.8M$48.5M1.69×
Cella Farms Inc.Series A$8.0M$46.5M1.62×
AquaCultured Foods, Inc.Series A$7.7M$42.3M1.47×
Very Good Food Co Inc.Series A$6.5M$40.4M1.41×
Agronomed Capital LLCSeries A$7.1M$39.4M1.37×
Verde Farms Holding, LLCSeries A$10.0M$38.1M1.33×
Tomorrow Farms, PBC this companySeries A$13.0M$19.7M0.68×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$8.3M2022-05-05$37.5M$52.2M90%
Series A$4.8M2024-02-20$21.7M$19.7M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$8.3M2022-05-05
    • First recorded raise — entered as Series A.
    • 21 investors on this round.
  2. Series A$4.8M2024-02-20
    • Raised again after 22 mo — slower than the ~14 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 6 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~22mo cadence
$4.8M
Modeled next size est.range $4.8M$7.6M
0.6×
Last step-up
$7.2M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Alexander Scaramucci1 other2024-02
Alex Klokus1 other2022-05
Ben Berman2022-05
Scaramucci Alexander2022-05
Registry & provenance

Tomorrow Farms, PBC is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1930812
SEC CIK
2022
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Hedgehog Foods, Inc.Agtech / FoodtechSeries A$12.8M$48.5Msame sector · same stage
Byte Foods, Inc.Agtech / FoodtechSeries A$12.6M$6.1Msame sector · same stage
Olyra Foods Inc.Agtech / FoodtechSeries A$12.5M$9.1Msame sector · same stage
Panaceutics Nutrition, Inc.Agtech / FoodtechSeries A$13.6M$5.9Msame sector · same stage
Laoban Foods Inc.Agtech / FoodtechSeries A$12.1M$19.6Msame sector · same stage
Mouth Foods, Inc.Agtech / FoodtechSeries A$11.8M$24.8Msame sector · same stage
Chamberlain Coffee Inc.Agtech / FoodtechSeries A$11.6M$19.3Msame sector · same stage
Mozza Foods, Inc.Agtech / FoodtechSeries A$14.6M$21.1Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
All in Food PBCAgtech / FoodtechSeed$14.4M88%
4P Foods, Inc. PBCAgtech / FoodtechSeries A$17.2M84%
Industrial Organic PBCAgtech / FoodtechSeries A$43.0M83%
Ripple Foods, PbcAgtech / FoodtechSeries C$72.0M83%
Greenberry Farms, LLCAgtech / FoodtechSeed$5.9M82%
Simple Farms LLCAgtech / FoodtechPre-Seed$2.5M82%
Farm Nashville, LLCAgtech / FoodtechSeries A$84.0M81%
Kate Farms, Inc.Agtech / FoodtechSeries C$467.9M81%
Frequently asked
How much funding has Tomorrow Farms, PBC raised?
Tomorrow Farms, PBC has raised approximately $13.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Tomorrow Farms, PBC's estimated valuation?
Provath's modeled valuation for Tomorrow Farms, PBC is approximately $19.7M (modeled range $6.1M–$46.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Tomorrow Farms, PBC at?
Tomorrow Farms, PBC's latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Feb 20.
What does Tomorrow Farms, PBC do and where is it based?
Tomorrow Farms, PBC operates in the Agtech / Foodtech sector, based in NEW YORK.
Explore related

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