Data Agriculture Greenlabs Secures 170 Billion KRW in Series C Funding

by Kim Heeyun

Published 17 Jan.2022 09:50(KST)

Securing 500,000 Member Farms, Quadrupling Sales... Full-Scale Global Expansion Underway

Data agriculture startup Green Labs (CEOs Sanghoon Shin, Donghyun Ahn, Seongwoo Choi) announced on the 17th that it has secured 170 billion KRW in Series C funding. Photo by Green Labs

[Asia Economy Reporter Kim Heeyoon] Greenlabs, a data agriculture startup (CEOs Shin Sanghoon, Andonghyun, Choi Seongwoo), announced on the 17th that it has secured 170 billion KRW in Series C funding.

This investment was led by BRV Capital Management, which invested 100 billion KRW, with SK Square investing 35 billion KRW and Skylake investing 35 billion KRW. Greenlabs' total accumulated investment has reached 210 billion KRW.

Through this investment, Greenlabs plans to challenge global innovation in data agriculture. The company operates the data agriculture service "Farm Morning" necessary for farm management and the data-based distribution brokerage platform "Sinsun Market," making it an agricultural startup.

Last year, Greenlabs secured 500,000 members, more than half of the 1 million domestic farms, and achieved sales of 100 billion KRW, four times higher than the previous year, gaining attention as an agtech company.

Shin Sanghoon, CEO of Greenlabs, said, "This year, we aim to increase the number of Farm Morning users to cover all 1 million farms and increase sales by 4 to 5 times compared to last year. We also plan to pursue mergers and acquisitions with major domestic and international companies to enhance the value chain of data agriculture."