Temasek backed agritech Rize raises $31 million, totals $47 million funding
Temasek-backed agritech startup Rize has scored $31 million in new funding to grow its sustainable farming efforts across Southeast Asia.
The equity portion was led by BNP Paribas Asset Management Alts, with support from The Rockefeller Foundation, Temasek, and Breakthrough Energy Ventures.
With an extra $11 million in debt financing, Rize's total funding now stands at $47 million.
Rize to scale sustainable farming practices
Rize plans to use the money to scale up eco-friendly alternate wetting and drying practices that help farmers save water and grow crops more sustainably.
They're also looking to open its platform to third-party providers and service providers and invest in modern farming tools.
Plus, the fresh funds will help them ramp up exports as they work toward making smarter, greener agriculture the norm in Southeast Asia.