Sumitomo Chemical America, Inc. Invests in Cultivian Sandbox Ventures (Fund III)

NEW YORK, May 24, 2019 /PRNewswire-PRWeb/ -- Sumitomo Chemical America, Inc., ("SCAI") announced that it has become a Limited Partner (LP) in the investment fund, Cultivian Sandbox Food & Agriculture Fund III (Fund III) operated by Cultivian Sandbox ("CS"), a venture capital firm based in Chicago, Illinois.

Emerging technologies will dramatically reshape the $5 trillion-dollar food and agriculture sectors to meet the changing demands of consumers and producers. The $135M fund invests in food and agriculture technology companies that seek to build sustainable food systems that have a positive impact on society. Fund III also focuses on sustainable production on the farm.

Sumitomo Chemical America is part of the Sumitomo Chemical Group of Companies which are actively looking for new technologies and startup companies that will help solve the challenges of society through the creation of innovation and new value.

SCAI's Corporate Venturing and Innovation Office (CVI) was formed to promote and engage the innovation ecosystem in the U.S. Today the CVI team is building relationships with promising startups and entrepreneurs. In addition to investing in the AgriFood ecosystem, CVI's other priority areas include healthcare, the environment, and information and communication technology (ICT).

"Through the investment in Fund III by SCAI, we can utilize the network created by Cultivian Sandbox to obtain the latest information on promising startups, build relationships, and accelerate the creation of new business platforms for Sumitomo Chemical," says Scott Mitchell, President & CEO.

The CVI Office is located in Cambridge, MA, and is actively searching to partner and invest in startups and established firms with reputations as innovators in the sustainable technology fields.

SCAI and its parent Sumitomo Chemical are committed to promote sustainability by acting in accordance with our six basic principles, guided by the Sumitomo Spirit and the Groups Business Philosophy, namely contributing to the establishment of a sustainable society through achieving sustainable growth of our business.

The Sumitomo Chemical Group will contribute to the resolution of social issues through the creation of new value through the power of chemistry to build a sustainable society.

SOURCE Sumitomo Chemical America, Inc.