Leaps by Bayer, the impact investment arm of Bayer AG, and Temasek, the global investment company headquartered in Singapore, announced the joint investment and formation of a new company, Unfold. The new venture will focus on innovation in vegetable varieties with the goal of lifting the vertical farming space to the next level of quality, efficiency and sustainability.
While most startups in the vertical farming market are focusing on the development of more efficient infrastructure, Unfold is the only company with unparalleled assets to unlock the genetic potential of vertical farming. By utilizing the seed genetics (germplasm) from vegetable crops, Unfold will focus on developing new seed varieties coupled with agronomic advice tailored for the unique indoor environment of vertical farms.
Unfold raised $30 million in the initial funding round and entered into an agreement for certain rights to germplasm from Bayer’s vegetable portfolio.
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