ImpactAlpha, August 12 – Vertical farming ventures are raising capital on the promise of the technology’s impact on food security. Nascent technology means the approach remains costlier than traditional horizontal greenhouses.
Bayer and Temasek’s new venture, Unfold, will develop seed varieties meant for indoor growing conditions using genetic material from agri-health giant Bayer’s repository.
Unfold has been staked to an initial $30 million. The partners are launching the venture through Leaps by Bayer initiative, a joint life sciences research, development and investment initiative focused on “human challenges.”