Tencent, a technology and entertainment conglomerate, has led a new growth investment round in Future Crops, an AgTech company.

Future Crops is an Israeli-Dutch venture that has developed vertical farming from technology that uses a unique soil-like substrate to reproduce the natural environment. This is the first time Future Crops has sought investment beyond its initial round of funding.

“We are tremendously excited about this investment,” says Gary Grinspan, CEO and Co-Founder of Future Crops. “Tencent’s investment reflects the company’s focus on sustainable innovations and support for technologies, like vertical farming, which can create clean, locally grown sustainable food while helping to mitigate the negative impacts of climate change. We believe our soil-substrate-based platform is closer to nature and produces fresh, longer-lasting, higher-quality produce at improved yields, as plants grow best in soil”.