BASF Venture Capital GmbH (BVC), the corporate venture capital company of BASF SE, is investing in WayBeyond. Founded in New Zealand and now headquartered in the United States, WayBeyond is an Internet of things (IoT) and software as a service (SaaS) company that aims to improve crop yields, crop quality, and grower profitability for low-to-mid tech controlled-environment agriculture (CEA) operations using data capture, farm management, and prediction tools.
Markus Solibieda, Managing Director of BASF Venture Capital GmbH, said: “The use of controlled-environment agriculture to grow fruits and vegetables continues to expand globally. As the next generation of growers enters the agriculture industry, we believe that their entry point will be CEA. WayBeyond is positioned to transform the way these CEA farmers grow the crops that will feed our growing population.”
“WayBeyond’s solutions not only help growers visualize their growing operations but also provide growers with the agronomic recommendations that they need to optimize yield and yield quality,” added Neal Okarter, Investment Manager at BVC in Los Angeles, California.
“We are delighted to have BVC as an investor. As a strategic VC fund, they are in a special position to appreciate WayBeyond as a disruptive business model. We are perfectly aligned around the vision of a digitally empowered, sustainable agricultural industry that will bring vast benefits to the seed and crop protection providers. Together, we are focused on supporting farm operators and growers,” said Darryn Keiller, Founder, and CEO of WayBeyond.
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