SEEDS Capital inks tie ups to inject $90m for agrifood tech startups

They will provide up to $4m per startup.

Enterprise Singapore’s (ESG) investment arm, SEEDS Capital has formed seven co-investment partnerships under Startup SG Equity that could provide more than $90m worth of investments for Singapore-based agrifood tech startups, senior minister of state for trade and industry Koh Poh Koon revealed at the opening ceremony of agriculture-focused industry conference Ag-Con Asia.

Besides co-investing, SEEDS Capital together with its new partners will assist startups through introductions to new business partners and providing support to enter new markets with the aim to fasttrack startups’ commercialisation process. The investment programme will provide a co-matching of 7:3 for the first $500,000 of co-investment, and up to $4m per deep tech startup under Startup SG Equity. which focuses on developing tech startups with intellectual property and global market potential.

Selected based on investment track record, strong commercialisation resources, networks and expertise, and familiarity with the local startup ecosystem in the agrifood tech space, chosen partners include AgFunder, Hatch, ID Capital, Openspace, The Yield Lab, Trendlines, and Visvires Capital Asia.

“By leveraging on the expertise from the private sector, we will catalyse deep tech innovation through high-potential startups to develop disruptive food and agri-tech solutions, and reduce our reliance on food imports,” SEEDS Capital and deputy chief executive of Enterprise Singapore Ted Tan said.

Over the past three years, SEEDS Capital along with its partners have co-invested over $130m in more than 60 startups in advanced manufacturing & engineering, health & biomedical sciences, services & digital economy and urban solutions & sustainability.

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