Future Food Foundry (3F), a UAE-headquartered agri-food technology company, announced an investment in NextGen Farms (NGF) and Sustenir Group. This strategic deal, worth over USD 20 million dollars, will merge the two companies to create the 'largest plant superfood ecosystem in Singapore'. Having already invested in multiple UAE-based agri-food technology companies, Future Food Foundry is now looking to expand its operational presence and become the leading agri-tech firm in MENA and Asia-Pacific.
"Future Food Foundry is committed to leading the way in sustainable controlled environment agriculture and food innovation. This investment underscores our dedication to bringing cutting-edge agri-food technology to the markets of our presence. We are excited about the potential of this merger to transform food production and availability in the region," said Leo Musatov, Co-Founder and Managing Director at Future Food Foundry.
"Sustenir is a pioneer in growing and bringing superfoods to consumers. Having developed the superfood salads category through favorites such as Kinky Kale and Kalming Kale, we are excited to deepen our innovation capabilities and broaden our portfolio through this merger with NextGen Farms," said Jack Moy, Chief Executive Officer of Sustenir Group. "The demand for sustainable and functional superfoods will continue to grow and we can play a larger role to benefit communities."
Operating under the Sustenir brand, the combined entity aims to redefine food sustainability and significantly enhance food security in Singapore. By leveraging controlled environment farming techniques and 'innovative superfood' production, the region will benefit from a steady supply of locally grown, nutrient-rich superfoods, contributing to enhanced food security and sustainable agriculture practices.
"Our mission has always been to elevate agriculture through high-tech solutions. This merger with Sustenir enables us to synergize NextGen Farms' state of the art systems with Sustenir's superfoods platform," said Balajee Potala, Founder of NextGen Farms.
For more information:
Future Food Foundry
https://futurefoodfoundry.com