twitter RSS Feed linkedin acp contact

Tencent leads new investment round for Future Crops

futurecrops tencentFuture Crops, an advanced agriculture sciences company that developed advanced vertical farming from cutting-edge technology, has recently announced a new investment round led by Tencent, a Chinese multinational technology conglomerate


The technology uses a unique soil-like substrate to better reproduce the natural environment. The high-tech farm grows fresh, clean, ultra-sustainable, high-quality crops at competitive price points. Researchers from Israel’s Agricultural Research Organization (ARO) were an integral part of the team that developed Future Crops’ cutting-edge technology. 

Future Crops has already raised over US$30mn in seed funding from a private equity arm run by the Lerman Family, leaders in the American steel industry to finance the construction of their state-of-the-art facility and to build their team of experts. This is the first time Future Crops has sought investment beyond its initial round of funding.

“We are tremendously excited about this investment,” said Gary Grinspan, CEO and co-founder of Future Crops. “Tencent’s investment reflects the company’s focus on sustainable innovations and support for technologies, like vertical farming, which can create clean, locally grown sustainable food while helping to mitigate the negative impacts of climate change. We believe our soil-substrate-based platform is closer to nature and produces fresh, longer-lasting, higher-quality produce at improved yields, as plants grow best in soil".

“Tencent supports companies creating solutions to the world’s most critical challenges, including technologies that can feed more people using fewer resources,” said Ling Ge, chief European representative, Tencent. “Investments in sustainable agriculture technologies, such as vertical farm systems, aligns with our mission to apply technology for good.”

“The timing of this investment round is perfect for us as Future Crops has recently scaled up to mass production capacity,” added Grinspan. “We’re already supplying fresh high-quality herbs to leading European retailers, both under private label and our own brand. Currently, we market all our produce, so this investment will allow us to expand our capacities to meet demand and continue to increase our R&D capabilities and develop proprietary technology.”


LATEST NEWS IN Agriculture

African food imports bill predicted to double by 2030

African food imports bill predicted to d…

Experts have warned that the cost of Africa’s yearly food imports could increase from US$50bn to US$110bn by 2030 if immediate measures aren’t taken to increase food production

Wildlife and forestry sector in the spotlight

Wildlife and forestry sector in the spot…

On August 22, the 23rd session of the African Forestry and Wildlife Commission, hosted by the Government of the Democratic Republic of the Congo opened in Kinshasa, putting the future...

Boosting investment for Africa-made cotton

Boosting investment for Africa-made cott…

At a partner’s conference on cotton, jointly organised with the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD), donors were urged to mobilise resources for new partnerships.   

Nature-based solutions help farmers in Ghana

Nature-based solutions help farmers in G…

Organic pesticides, waste-based fertilisers and forest regeneration are just a few of the green initiatives being employed in Ghana to boost farming communities’ resilience to the impacts of climate...

Boosting soil nutrient mapping in sub-Saharan Africa

Boosting soil nutrient mapping in sub-Sa…

The Food and Agriculture Organization of the United Nations (FAO) is set to fast track an impact-oriented project in sub-Saharan Africa and Central America for digital soil nutrient mapping, after...

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

Prev Next

OTHER RELATED ARTICLES - Agriculture

Kenya's avocado sub-sector shows promising future

Kenya's avocado sub-sector shows promisi…

With an estimated annual production of 115,000mt, Kenya’s avocado sub-sector has experienced further growth as investments increase in the counties and new export markets open up

Argentine experts to assist Mozambican fruit industry

Argentine experts to assist Mozambican f…

Argentina will share its agricultural expertise with fruit farmers in Mozambique

DuPont leader calls for action to prevent food crisis

DuPont leader calls for action to preven…

DuPont Executive Vice President James C. Borel has urged more than 200 business, government and non-profit leaders to commit to a new level of collaboration and personal accountability to achieve...

Access to Seeds Index shows seed companies moving to ‘greener pastures’

Access to Seeds Index shows seed compani…

The World Benchmarking Alliance (WBA) has launched the third iteration of the Access to Seeds Index, which shows that both global and regional seed companies are doing much better with...

FAO conducts emergency seed distributions in north-east Nigeria

FAO conducts emergency seed distribution…

The UN Food and Agriculture Organisation (FAO) is distributing seeds and fertiliser for more than one million people in north-eastern Nigeria for the planting season that begins this month as...

African food imports bill predicted to double by 2030

African food imports bill predicted to d…

Experts have warned that the cost of Africa’s yearly food imports could increase from US$50bn to US$110bn by 2030 if immediate measures aren’t taken to increase food production

Big farms for Africa

Big farms for Africa

Dr Terry Mabbett concludes his meeting with Chris Okeke who discusses non-competitive seeds, input and output markets, as well as the real role for smallholders

Oikocredit signs MoU with tea factories to produce two million tea seedlings in Rwanda

Oikocredit signs MoU with tea factories …

The Oikocredit International Support Foundation has signed a Memorandum of Understanding (MoU) with Karongi and Muganza Kivu tea factories in Rwanda to produce two million tea seedlings

EU-funded Afikepo project improves nutrition in Malawi

EU-funded Afikepo project improves nutri…

European Union-funded Afikepo nutrition sensitive agriculture project has been being implemented in Malawi to increase and diversify dietary intake of safe and nutritious foods, and achieve optimal nutrition for women...

How to prevent downy mildew in rose stems

How to prevent downy mildew in rose stem…

Dr Lisbeth Riis, founder and CEO at Scarab Solutions, has discussed how tackling downy mildew requires preventive measures, effective scouting, early intervention and regularly executed control

Kenyan farmers welcome Kibaki’s order on fertilisers

Kenyan farmers welcome Kibaki’s order on…

Farmers in Kenya have praised the country’s president, Mwai Kibaki, for his instruction to the government for the issuing of US$35mn to import subsidised fertiliser

BASF launches new long-lasting insecticide-treated mosquito nets against malaria

BASF launches new long-lasting insectici…

BASF has received a recommendation from the World Health Organisation (WHO) for Interceptor G2, a long-lasting insecticide-treated mosquito net (LN) based on chlorfenapyr, a new insecticide class for combating mosquitoes...

Prev Next