N.Thing, the Korean-based agri-food tech startup, has risen $ 21 millionIn Series B funding, to revolutionize the value chain of farm-to-table food
The total amount of funding raised by the turn-based turnaround between InterVest and Kiwoom Investment is $ 26 million. New and new investors such as SL Investment, Ascendo Ventures, KT&G and IGIS Asset Management also took part in the round. Leo Kim, CEO and founder of N.THING, said about the shift:
“The new capital of our new and emerging investors and the additional support of long-term investor partners is a specific need for our urgent need for new solutions to our agricultural system. to achieve digital transformation “.
N.Thing specializes in the innovation of agricultural products to revolutionize the value chain of farm-to-table food, a role it has been fulfilling since its inception in 2014. The first vertical farm formed by the startup was created in 2014 with “CUBE”. modules and its proprietary operating system. This solution, developed at launch, was designed to ensure the creation of the most suitable environment for each crop in order to achieve maximum productivity.
Over the past year, N.THING has won major awards such as the iF Design Award and Best Innovation Award CES 2020. This year, the agritech startup aims to expand its business globally as well as drive development. it ensures that the goals of its technology platform will help meet new funding.
Through The Internet of Things technology, N.THING aims to build a bridge between people and nature by reducing pesticides and pollution throughout the year. While new technological advances continue to be applied in the agricultural sector, the agri-food technology startup aims to become a major player in enabling sustainable supply and accessibility to buyers.