• Green Labs, a Korean startup offering a blockchain-based smart farming platform, has raised USD 140 million in a Series C round of funding led by BRV Capital Management. Existing Investor SK Square and new investor Skylake Incuvest also participated in the round.

• Following the round, the company’s pre-money valuation was USD 0.7 billion, moving it closer to reaching unicorn status. The funds are expected to support Green Labs in expanding its global presence, funding acquisitions, and hiring more employees. 

• Green Labs also reported that it is open to collaborating with local players that offer similar services in its aim to expand into global markets. As of January 2022, the company has expanded its services to China and Vietnam, operating via its headquarters in both South Korea and the US.

<ul><li> Analyst QuickTake: Last month, Green Labs also received an investment of KRW 35 billion (~USD 30 million) from SK Square, an investment company that operates as a part of the South Korean conglomerate SK Group. The investment was expected to support Green Labs in further expanding its supply chain and distribution network for crops by its app subscribers. At the time, Green Labs also reported that it expects its revenue and subscribers (20,000 as of January 2021) to increase 5x and 2x, respectively, by 2022.</ul>