Temasek, Bayer form new company to sell seeds to vertical farms

Unfold has raised US$30 million in an initial funding round and entered into an agreement for certain rights to germplasm -- the genetic material from which plants grow -- from Bayer’s vegetable portfolio, the two firms said in a statement Wednesday.

For the tiny island nation of Singapore, that’s a particular concern. The city-state has a national goal of sourcing 30% of its food needs locally by 2030 -- a tall order considering its land constraints and rising sea levels. Lettuce, CucumbersMuch of the knowledge comes from Bayer’s 2018 acquisition of Monsanto Co., which was partly funded by Singapore’s state-owned investor. Unfold will be equally owned by both parties and headquartered in Davis, California with additional operations in Singapore. The startup is heavily recruiting while setting up labs for R&D.

“Breeding now is nothing like it was 10, 15 years ago because we’re able to do so much more” using computer-simulation techniques, he said.

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