Agri-tech startup Greenlabs has announced its recently-secured $140 million Series C funding earmarked for global expansion efforts. Participating in this latest round are BRV Capital Management, Skylake Incuvest & Co., and SK Square, pushing the total investment raised to over $176 million.
As the leading agri-tech company in Korea, Greenlabs operates in every stage of the agricultural industry value chain from production to distribution. They aim to sustainably innovate the food supply chain by empowering producers to improve control over their fresh produce and providing customers with reliable sourcing channels.
They also offer the “Farm Morning” app, a smart farm system for produce growers, and “Sinsun Market” for enterprise buyers of fresh produce. Both serve over 500,000 produce growers and 10,000 buyers.
Thanks to its smart farm technologies for strawberries and Korean ginseng, Greenlabs has already permeated the Chinese and Vietnamese markets. With the help of the Farm Morning platform, the startup plans to enter foreign markets through strategic partnerships with local players.
“Greenlabs has quickly implemented digital agriculture through Farm Morning and Sinsun Market services in Korea and is positioned to become a unicorn within 5 years of its foundation,” said Greenlabs CEO and Co-Founder Charlie Sanghoon Shin. “We hope to contribute to resolving global food supply system issues with like-minded partners.”
For more detailed information on Greenlabs, visit www.greenlabs.co.kr.
