Greenlabs Raises $140M in Series C Funding

GREEN LABS

Greenlabs is a South Korean agtech startup that raised $140M through Series C funding.

SK Square, Skylake Incuvest & Co., and BRV Capital Management were some of the backers. The total amount raised so far is more than $176M.

The funds will be used by the company to increase its global expansion.

Greenlabs was founded in 2017 by Charlie Sanghoon Shin as CEO and co-founder. They have digitized every aspect of the agricultural value chain, from production to distribution. The company’s services include the “Farm Morning”, an app that provides smart farming systems for produce growers, and “Sinsun Market,” which is for enterprise buyers who want fresh produce. The company, which is a member in good standing of Born2Global Centre, currently provides services to 500,000 produce growers through the app. Meanwhile, the Farm Morning smart farming system has been used in over 3,000 Korean projects. Greenlabs sources fresh produce directly from Farm Morning producers and delivers it to its Sinsun Market platform, which serves more than 10,000 businesses.

The startup is already expanding into China and Vietnam.

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