Seedo Corp. applied to the Israeli Innovation Authority for a $1.7 million grant. “This support will maintain the great momentum we’ve gathered this year,” says David Freidenberg, CEO of Seedo Corp.
The funds would go towards developing a new approach to cultivating saffron that would expand the market. Factors that have hindered market growth include the high cost and labor-intensive process required by traditional agricultural farming and the specific climate conditions that limit cultivation to one time per year.
“The Israeli Innovation Authority serves as an accelerator for innovative projects. We are thrilled to be a contender for the R&D funding the agency provides to help companies realize their goals and it will be part of our IPO strategy for Saffron Tech," David adds.
Seedo Corp. is developing the protocols to grow saffron year-round inside vertical farms. This would provide a reliable source of saffron for applications in a variety of sectors including pharmacology, culinary, beauty and wellness. The Israeli Innovation Authority looks to support disruptive innovation that can bring change to the technological landscape.
For more information:
Seedo
+972-546-642-228
info@seedolab.com
www.seedolab.com
David Freidenberg, Chief Executive Officer
Saffron Tech
davidf@saffron.ag
www.saffron-tech.ag