AgFunder-Backed Singrow Secures $4.5 Million in Series A Funding for Global Expansion

[Disclosure: AgFunderNews’ parent company AgFunder is an investor in Singrow.]

Singrow, a pioneering force in plant genomics and precision agriculture, has successfully raised $4.5 million in a Series A funding round. The investment is set to accelerate the company’s growth in seedlings, vertical farming, and plant genetics, particularly in Asian regions and beyond.

Investors Join Forces

The funding round saw participation from both new and existing investors, including Singrow, Finc Pte. Ltd., Cyanhill Capital, Pasudeco, and Eastern Wind International. Established backers Ritz Venture Partners and AgFunder also contributed, highlighting confidence in Singrow’s business model and growth potential.

Expanding Horizons

Founded in 2019 and based in Singapore, Singrow has made notable strides in the agricultural sector. CEO Dr. Bao Shengjie emphasizes that one of the company’s significant achievements is its transition from a single-market operation to a broader regional entity that now encompasses Southeast Asia and China.

New Facilities and Innovations

In 2023, Singrow initiated its expansion into the Chinese market, establishing a new propagation facility dedicated to strawberry seedlings. “This capacity allows us to supply the market with new strawberry variants for the first time,” Dr. Shengjie explains. With substantial production occurring at their Guangzhou farm, they are not only meeting domestic demands but also exporting strawberries to markets in Singapore, Indonesia, and Thailand, effectively turning into a regional business.

The company has trial-planted its heat-resistant “climate resilient strawberries” in various countries, including Singapore, China, Vietnam, and Indonesia, which are designed to flourish in high summer temperatures—an innovation poised to reshape strawberry production worldwide.

Technological Breakthroughs

Last year, Singrow introduced captivating technology that significantly shortens the traditional timeframe required for growing and harvesting saffron, showcasing its commitment to impacting the agritech landscape positively.

Investor Confidence

Angela Tay, a senior associate at AgFunder, states, “Singrow’s platform is at an inflection point—ready to scale globally and capture significant value in agritech. Over the past five years, our confidence in them has only grown.”

Singrow’s Core Mission

Despite the rising trend of vertical farming for leafy greens, Singrow remains focused on its primary identity as a seed company. “Our innovations stem from crop breeding and precision farming,” Dr. Shengjie articulates, distancing the company from conventional farming approaches.

Innovative Circular Systems

Alongside strawberries, Singrow plans to incorporate mushroom cultivation into its operations, aiming to create one of the largest circular agricultural systems in Singapore by leveraging the waste air produced during mushroom growth. This air, rich in CO2, will not only enhance strawberry production but also assist in minimizing emissions from the mushroom side of the operation.

Future Developments

With plans for a significant facility in Houston, Texas, Singrow prepares to compete directly with American vertical farming leader Oishii. Dr. Shengjie posits that their unique circular approach will enable them to achieve operational costs that are about 60% lower than their competitors.

As the company readies to launch another funding round, Dr. Shengjie indicates that proceeds will be utilized to penetrate new markets, including Saudi Arabia and Brunei, while further developing ongoing projects.

Conclusion

Singrow’s innovative approach to plant genetics and farming, coupled with its strategic expansion plans, positions it as a formidable player in the agritech industry, promising to reshape how fruits and plants are cultivated globally.