"Singrow diversifies seed breeding and vertically farmed operations globally following fresh capital injection"
Singrow Expands and Innovates with Series B Funding
Singrow, a Singapore-based plant genomics and precision agriculture company, is making waves in the industry with its latest announcements. The company, founded in 2019, has secured a Series B round of funding, with the first close expected in December of this year.
The new funding will be used to expand Singrow's business to new geographies, beyond Asia. This includes entering the North American market with a planned mushroom-strawberry facility in Houston, Texas, which will put Singrow in direct competition with Oishii.
Singrow's main lines of business are seedlings, vertical farming, and a reverse genetics breeding platform. The company has already made a name for itself in Asia, with its largest seedling production coming from its Guangzhou farm in southern China. Singrow has also built a propagation facility for strawberry seedlings there.
The company's circular agricultural plant factory in Singapore, which grows both strawberries and white-button mushrooms, is one of the biggest in the market. This innovative setup allows for less intense climate control needs and a circular nature, resulting in operational costs that are about 60% lower compared to Oishii.
One of the key features of Singrow's circular system is the use of the "waste air" from mushroom production as a free CO2 fertilizer and air conditioning for the strawberry production. This not only reduces costs but also contributes to a more sustainable farming method.
Last year, Singrow unveiled technology that compresses the traditional timeframe for saffron growing and harvesting. The company has also devoted much effort to its reverse genetics breeding platform, providing partnering companies with breeding targets for a variety of traits.
Singrow's strawberries are derived from Northeast Asian cultivars and are claimed to be resistant to high temperatures, enabling year-round production and production in regions where strawberry production was previously unheard of. The company has trial-planted these heat-resistant strawberries in multiple countries including Singapore, China, Vietnam, Indonesia, Malaysia, and Thailand.
In addition to its expansion plans, Singrow has secured the rights to build a bigger facility in Singapore. The new facility is slated to be ready by the end of 2026. The company is also planning to take the circular mushroom-strawberry concept to Vietnam and China.
The investors in the round include Finc Pte. Ltd., Cyanhill Capital, Pasudeco, Eastern Wind International, Ritz Venture Partners, and our socials. The investors involved in the upcoming Series B funding round may potentially include those from the previous Series A round, such as AgFunder. The exact list of investors has not been explicitly listed yet.
As Singrow continues to innovate and expand, it is poised to make a significant impact in the agricultural industry, both in Asia and beyond.
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