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Agri-tech startup N.Thing secures $2.2 million in Series A funding  

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KoreaTechDesk Writer by KoreaTechDesk Writer
PUBLISHED: February 13, 2019 UPDATED: July 18, 2019
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Agri-tech startup N.Thing secures $2.2 million in Series A funding  
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The Agriculture IoT startup N.Thing got 2.55 billion won or $2.2 million in series A funding from domestic venture capital and individual investors such as SpringCamp, UQI Partners, and TBT. The cumulative investment that the startup has is 3.8 billion won or $3.3 million. In 2015, the startup had secured investment of about $1.7 million from KDB Bank (Korea Development Bank).

Nthing is an Agri-tech startup that develops a container-type Smart Farm Cube that combines agriculture and Internet technology and mass-produces and supplies high-quality vegetables through its own operating system. Plant cubes can grow 50 kinds of crops with uniform quality without external climatic effects.

Nthing also has developed Planty square and Planty, which are easy to use planters that are internet connected and motivate people to adopt planting and farming. The latest funding has boosted Nthing’s future endeavours.

“We are currently working on building a large-scale vertical farm in Korea and will focus on successfully achieving global market entry,” said Kim Hye-yeon, CEO of Nthing. “We are planning to enter Japan, Singapore, and the US, starting with the Middle East. “

The investors too have faith in the startup that it will expand globally. “We are confident that Nthing will expand the smart farm scale to the global smart farm market through this investment,” said Spring Camp in a media statement.

http://koreatechtoday.com/koreatechdesk/n-thing-everyone-can-become-a-farmer/

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Tags: Agri-techInvestmentNthingSeries ASmart Farm CubeVenture Capital
KoreaTechDesk Writer

KoreaTechDesk Writer

KoreaTechDesk is a trustworthy source for news on the start-up industry in South Korea. It focuses on various tech start-ups, which are developing some unique and interesting products. press@18.206.160.104

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