Malaysia: Boomgrow receives undisclosed investment

Asia-focused venture capital firm Gobi Partners is doubling down on its commitment to Environment, Social, and Governance (ESG)-friendly investments through its latest strategic funding into Malaysian agritech startup BoomGrow’s Pre-Series A Funding Round.

The investment is made through the Khazanah Nasional Berhad-
backed Gobi Dana Impak Ventures (GDIV) fund, the duo said in a statement on Monday. With this latest funding round, BoomGrow aims to expand operations across Southeast Asia.

BoomGrow operates vertical farms in Malaysia, and they are in the process of expanding. Their recent move into Manila, Philippines, is a strategic response to the high population density and the growing demand for fresh, clean, and nutritious produce.

Its initial grant funding came from SME Corp and venture capital funding from Big Sky Capital, an American venture capital firm, as well as angel investors. “We are excited to be part of the Khazanah and Gobi family. BoomGrow is enabling access to better-quality fresh food by focusing on our ESG principles,

“Our commercial-scale solutions are backed by a data-driven approach, which is key to resilience and agile decision-making,” BoomGrow Co-founder and Chief Executive Officer Murali Krishnamurthy said. “Ultimately, we are unlocking the future of food whilst having a transformative impact on the environment and our communities, “It’s great to see investor alignment with our vision, which will enable us to execute our growth plans across Southeast Asia,” he said.

Read the entire article at Technode

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