US-based seed developer Unfold launched on Wednesday with $30m in funding from agribusiness Bayer’s corporate venturing arm, Leaps by Bayer, and Singaporean state-owned investment firm Temasek.
Unfold will use genetics from vegetable crops to grow new varieties of seeds specifically designed for indoor vertical farming, a technique that allows produce to be grown in indoor urban spaces for use locally, reducing the amount of resources involved in their growth and eventual transport to restaurants or shops.
The company, which was also jointly formed by Bayer and Temasek, is headquartered in the state of California but also has a presence in Singapore.
Jürgen Eckhardt, head of Leaps by Bayer, said: “Innovation that offers sustainable solutions for agriculture is one of the 10 areas of engagement and investment that Leaps by Bayer is focused on.
“The investment in Unfold is a great example of a transformative, creative approach to developing agricultural products that meets the needs of consumers, farmers and the planet by increasing access to fresh fruits and vegetables, supporting sustainably grown, hyperlocal production and addressing food security challenges faced by growing urban populations.”
Image courtesy of Bayer AG.
