Unfold. a new company that will focus on innovation in vegetable varieties, launched with USD$30m in initial funding.
The company was created via and funded from a joint investment by Leaps by Bayer, the impact investment arm of Bayer AG, and Temasek, the global investment company headquartered in Singapore.
Led by CEO John Purcell, Unfold owns assets to unlock the genetic potential of vertical farming. By utilizing the seed genetics (germplasm) from vegetable crops, the company will focus on developing new seed varieties coupled with agronomic advice tailored for the unique indoor environment of vertical farms. Unfold will support the hyperlocal production of vegetables while also addressing the increasing need for a reliable and safe supply of sustainably grown produce.
Unfold will be a U.S. entity headquartered in the Davis, Calif. area with commercial and research and development operations in both California and Singapore.