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Korean startup Green Labs gets $18 million in Series B funding

Started in 2017 and already $18 million in. That's what the startup Green Labs has managed to do. The ‘smart farming’ platform, has secured $18 million in Series B funding.

With the funding round led by Hashed, a blockchain focused venture capital firm headquartered out of Seoul and San Francisco, Green Labs has raised $28 million in funding to date. This is a significant milestone for the agricultural data startup, as it plans to grow its current user base in the farming industry from 20,000 to 100,000.

Green Labs believes that a state of the art agricultural data collection platform is the industry disruptor needed to improve crop production.

Auxiliary investments
The company aims to grow into a full one-stop shop with the completion of this additional funding round, helping farmers from the production phase to the distribution phase.

The Series B funding will also allow Green Labs to focus on auxiliary investments to grow its platform, such as upgrading the technology of already established smart farms, launching agricultural exchanges, creating an easier way to purchase agricultural materials online, and adding to the direct trade possibilities for agricultural products.

Read the complete article at www.financemagnates.com 


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