South Korea-based smart farming company backed by top private investment firm IMM Investment will venture high-tech fresh food farming in Mongolia of harsh climate after the war between global breadbaskets of Russia and Ukraine heightened the importance of food self-sufficiency.
According to the investment banking industry on Tuesday, PlanTFarm, a portfolio company of IMM Investment, signed an agreement with Premium Group of Mongolia to jointly set up an agri-tech firm in Mongolia, the first of its kind in the country.
The JV project is to create and operate indoor vertical farms this year to grow and sell fresh vegetables in Mongolia.
PlanTFarm is a Korean vertical farming solutions company, in which IMM Investment has commanded largest stake since 2014. It was spun off from Farm8, the world’s sole company with a vertically integrated complete smart farming value chain to provide end-to-end services from producing, processing, and…