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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Temasek, Bayer form new company to sell seeds to vertical farms[SINGAPORE] Singapore's Temasek Holdings and Bayer AG have formed a new company that will develop seeds for vertical farms. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

New company by Temasek, Bayer to develop vegetable seed varieties for vertical farmingSINGAPORE: Singapore state investment firm Temasek has joined hands with the impact investment arm of German pharmaceutical and chemical maker ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Temasek, Bayer form new company to sell seeds to vertical farms[SINGAPORE] Singapore's Temasek Holdings and Bayer AG have formed a new company that will develop seeds for vertical farms. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

New company by Temasek, Bayer to develop vegetable seed varieties for vertical farmingSINGAPORE: Singapore state investment firm Temasek has joined hands with the impact investment arm of German pharmaceutical and chemical maker ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Big US companies form group to boost hiring of minorities in New YorkLeaders from major US companies, including banks and tech giants, have formed a group aimed at increasing the hiring of individuals from minority ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »