500 Global leads agritech startup Qarbotech seed funding

Malaysia's agritech and sustainability startup, Qarbotech, has secured seed funding and grants totaling $700,000.

• Investor Line Up: The investment round was spearheaded by 500 Global, and supplemented with innovation grants awarded by Temasek Foundation and Khazanah Nasional's Dana Impak for winning the Climate Impact Innovations Challenge and Khazanah Impact Innovation Challenge (KIIC) respectively, both in 2023.

• Product Offering: Qarbotech's pioneering product, QarboGrow, is a patented nanotechnology with the capability of enhancing photosynthesis. This on-plant or in-soil solution can skyrocket agricultural productivity by up to 60%, thanks to its formula containing biocompatible organic compounds similar to chlorophyll. This technology enables farmers and growers of all scales to boost crop yield by optimizing photosynthetic efficiency and reducing growth cycles.

• Target Market: Qarbotech, headquartered in Kuala Lumpur, caters to customers in Malaysia, Indonesia, and other Southeast Asian countries.

• Funding Allocation: The company's plan for the new funding includes intensive investment in research and development and expansion of its manufacturing facility to produce up to 50 times its current capacity.

Qarbotech’s technology could be the crucial tool farmers need to increase production despite having less arable land. Southeast Asia is facing a population explosion, with an estimated growth of 12% from 670 million in 2020 to 750 million by 2035. Coupled with climate unpredictability, food demand is projected to rise by 40% by 2050.