SEA Digest: Temasek, Wavemaker, Bill Gates' VC arm launch agritech venture; Mighty Jaxx enters metaverse

SEA Digest: Temasek, Wavemaker, Bill Gates' VC arm launch agritech venture; Mighty Jaxx enters metaverse

A rice field in China. Photo from Pixabay.

Temasek is collaborating with investment firms Wavemaker Impact, Bill Gates’s Breakthrough Energy Ventures and GenZero for a new agritech startup that will focus on rice decarbonisation. Separately, Singapore’s Mighty Jaxx has developed a metaverse platform for the Halloween season.

Temasek, Wavemaker, Breakthrough Energy team up for agritech venture

Singapore’s state investor Temasek is partnering with investment firms Wavemaker Impact, Bill Gates’s Breakthrough Energy Ventures, and GenZero to create a new agritech startup that will focus on minimising the carbon impact of rice cultivation.

The startup will look at reducing greenhouse gas emissions from Southeast Asia’s extensive rice fields by identifying economic incentives to drive the adoption of sustainable cultivation.

Given that rice cultivation is the second-largest source of greenhouse gas emissions and responsible for up to 33% of Southeast Asia’s methane emissions, “this new startup is the kind of venture we set out to build at Wavemaker Impact,” said Wavemaker Impact’s founding partner Steve Melhuish.

The VCs plan to pump an undisclosed seed funding in the startup, which will be used for the startup’s initial hiring and experimentation costs, the companies said in a statement.

Mighty Jaxx opens first metaverse platform for Halloween

Singapore-based entertainment company Mighty Jaxx said on Wednesday that it has launched a metaverse platform “Spooky Season” for Halloween in collaboration with firms like The Sandbox, and Sideshow Collectibles.

Mighty Jaxx, which produces physical and digital collectibles for fans, said that its metaverse platform will be freely available from October 28 to November 11 to mark Halloween. The company said that its full metaverse experience in partnership with Singapore Comic Con will be launched in December.

Spooky Season will have experiences for both horror and casual fans of various fandoms and be a crossover platform for fans to get digital collectibles.

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