Pre-Series A made via Khazanah-backed Gobi Dana Impak Ventures fund Uses repurposed shipping containers located in situ, growing vegetables Asia-focused venture capital firm, Gobi Partners is doubling down on its commitment to Environment, Social and Governance (ESG)-friendly investments through its latest funding, for an undisclosed amount, into Malaysian AgriTech startup, BoomGrow’s Pre-Series A funding. The investment is made through the Khazanah Nasional Bhd-backed Gobi Dana Impak Ventures (GDIV) fund.
By Dr Sivapalan Vivekarajah September 23, 2023By Sustainability Matters September 27, 2023By Digital News Asia September 27, 2023By Karamjit Singh October 2, 2023Uses repurposed shipping containers located in situ, growing vegetables
Prior to this, BoomGrow has received a grant from SME Corp and venture funding from Big Sky Capital, an American VC firm as well as angel investors. With this latest funding round, BoomGrow aims to expand operations across Southeast Asia where it already has a presence in Manila, Phillipines. BoomGrow co-founder and CEO, Murali Krishnamurthy said, “We are excited to be part of the Khazanah and Gobi family. BoomGrow is enabling access to better-quality fresh food by focusing on our ESG principles. Our commercial-scale solutions are backed by a data-driven approach which is key to resilience and agile decision-making. It’s great to see investor alignment with our vision which will enable us to execute our growth plans across Southeast Asia.
A key feature of the Machine Farm is the ability to grow close to consumers as well as serve remote areas. Modular and stackable, the Machine Farms are a model for the future of scalable, sustainable hyper-local farming. Compared to traditional outdoor farms, these farms use 95% less land, water and labour.
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