Rovers Company Secures KRW 500M Seed Funding for Agricultural IP Innovations

Rovers Company Secures KRW 500M Seed Funding for Agricultural IP Innovations

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Rovers Company, a Korean AgTech startup specializing in agricultural IP, has secured a KRW 500 million seed investment from Korea Investment Accelerator, Byucksan, HAATZ, and Antler Korea. The company previously participated in Antler Korea’s second global venture capital startup generator in June 2023, where it raised KRW 200 million in pre-seed funding and was selected for the 2024 Young Entrepreneurs Academy.

To address the challenges posed by climate change on crop cultivation, Rovers Company is developing Crop Navigator. This platform enables B2B transactions for those aiming to commercialize crop varieties and offers royalty management services to protect the intellectual property (IP) of these varieties.

Co-founders Park Chang-jun and Song Ha-rin, both alumni of the AgTech startup N.Thing, have extensive experience in agricultural business development and sales. CEO Park Chang-jun has managed business operations in North America and Southeast Asia at N.Thing and has B2B sales experience in the U.S. COO Song Ha-rin joined N.Thing through an M&A after founding a hardware development startup and has overseen projects in the Middle East and North Africa.

CEO Park Chang-jun commented, “We see the seed industry as the semiconductor of agriculture. The investment from Korea Investment Accelerator, Byucksan, HAATZ, and Antler will significantly boost Rovers’ global business expansion aimed at markets in the Netherlands, Mexico, and Japan this year.”

He also shared the company’s ambitions to resolve issues such as opaque transactions and the lack of standardized royalty systems in global variety IP trading, with the goal of aggressively expanding to become a global leader in the variety industry, which has been slow to innovate.

Rovers Company is focusing on variety IP in the upstream segment of the global agricultural value chain and plans to establish itself as a leading global provider of agricultural IP transaction solutions this year.

[Korean AgriTech Startup News]

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