Kakao, the operator of Korea’s leading mobile messenger app, KakaoTalk, is expanding into agriculture with the acquisition of a 33% stake in the farming startup, Manna Controlled Environment Agriculture (Manna CEA).

 

The company announced this week that K Cube Group, the investment arm of Kakao, is branching into agricultural investments as a means to gain a share of a ‘next generation growth engine’ in response to slowing growth in its mobile platform.

 

"We decided to invest in the environmentally friendly agricultural products market which is expected to grow 12 percent each year," said K Venture Group CEO John Park in a statement.

 

Manna CEA employs automated agricultural technologies to supply solutions for the building of environmentally friendly farms and their maintenance. The company has also begun selling organic products through their online platform.

 

Manna CEA plans to integrate Kakao’s communication technologies to bring their business to the next level. Having focused on using its ICT expertise to produce farm products, the company will now have the capability of enhanced communications with farmers and customers through Kakao’s technologies.