Seedo Corp. has been awarded a $1,000,000 grant from the Israeli Innovation Authority (IAI), an independent publicly funded agency. The new grant will allow the AgTech company to accelerate its R&D program building on its development of the protocols for growing saffron using vertical farming technology.
The funds will enable the company to expand its facilities, allowing it to grow more saffron for commercial use. This grant demonstrates the Israel Innovation Authority's recognition of the innovation and potential of the company’s technology and solutions.
“We are very proud to receive this funding from the Israeli Innovation Authority,” says David Freidenberg, CEO, Seedo Corp. “In this new era of agriculture that incorporates innovative technology to the cultivation process, it makes sense that the Israeli Innovation Authority would support Seedo’s forward-thinking endeavor. Saffron is just the start and this generous grant will help us advance further in our business plans."
According to David, the IAI reviews thousands of new and innovative science companies in determining which ones not only have great science, but also the stability and practicality to function in the open market environment. He said it's truly a badge of honor.