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Greenlabs, an agriculture technology startup has announced the signing of an MoU with the South Korean Rural Development Administration (RDA) on the disclosure and utilisation of public agricultural data
Greenlabs said that the MoU was signed to promote cooperation between the two organisations, encouraging the use of shared agricultural data collected from both public and private sectors.
The MoU aims for close cooperation of the two companies in the following areas: building an agricultural data ecosystem for digital expansion in agriculture, disclosing agricultural data to create new services and solve pending agricultural issues, developing an agricultural data analysis cloud to promote data usage, conducting carbon reduction projects to combat climate change and food crisis, developing big data and AI-based solutions, and exchanging domestic and foreign information concerning agricultural data and organising joint projects.
Greenlabs is one of the leaders in the digital transformation of the agricultural sector with its comprehensive agricultural platform 'Farm Morning' and agricultural product distribution platform 'Sinsun Hi.’
Farm Morning's digital solution service includes agricultural franchise, farm construction, crop cultivation, and distribution sales. The service is known to be a one-stop agriculture platform that digitises all the agricultural solutions necessary for farmers. Using the public agricultural data now available to them, Greenlabs plans to upgrade the existing Farm Morning service and expand on new businesses such as carbon neutrality and international markets.
"This data cooperation with the RDA will accelerate and expand the innovation in digital agriculture", said Ahn Dong-Hyun, CEO of Greenlabs. "With our service Farm Morning, which has recently exceeded 650000 users in South Korea, Greenlabs will expand the value of agricultural data and lead agricultural innovation both overseas as well as in the country."
The Rural Development Administration(RDA) is South Korea's representative government department in charge of rural and agricultural development. The department is known to play a key role in leading innovation in agricultural technology, solving pressuring issues like the climate crisis and carbon neutrality through digital transformation in agriculture.
With agricultural data from production and distribution, Greenlabs said that it seeks to provide meaningful solutions for farm management and aims to foster the agricultural ecosystem. The company has received investments from DS Networks, BRV Capital Management, Skylake Incuvest, and SK Square, which brings its total investment to US$169.2mn.