Agroz IPO: US$97M AI farming firm lists on Nasdaq

MALAYSIA – Agroz, a Malaysia-based vertical farming company, has officially launched its £73 million (US$97.2 million) initial public offering (IPO) on the Nasdaq stock exchange under the ticker AGRZ.

The listing marks a new step for the agri-tech sector, showing investor trust in sustainable, technology-driven food production.

The company integrates artificial intelligence, robotics, and data analytics to improve crop growth, cut energy use, and manage resources in controlled environments. “We built Agroz to prove that food can be grown anywhere, anytime, with minimal environmental impact,” said founder Gerard Lim.

Based in Petaling Jaya and founded in 2020, Agroz designs, builds, and runs indoor farms that produce pesticide-free vegetables. The firm’s annual income for the year ending June 2024 reached £3.8 million (US$5.06 million) from farm construction, operations management, and produce sales.

At the centre of its system is the Agroz Farm Operating System (Agroz OS), a digital platform that connects farm operations and IT systems for seamless management.

Its latest feature, Agroz Copilot for Farmers, built with Microsoft’s Azure OpenAI Service, helps growers monitor crops, adjust growing conditions, and improve yield predictions.

“Agroz OS and Copilot combine agronomy with data science, reducing waste and increasing reliability,” Lim added.

The firm’s Farming-as-a-Service (FaaS) model is expanding into Indonesia, Thailand, and the Middle East. These regions face erratic climates and shrinking farmland, making efficient, local food production essential.

Through partnerships with governments and private firms, Agroz delivers ready-to-run farm systems that use up to 90% less water and land compared to traditional farming.

IPO to fund growth and innovation

Agroz’s IPO seeks to raise £7.7 million by issuing 2.5 million shares at £3.10 each. Backed by Tiger Brokers, the move will support global expansion and further development of Agroz’s AI farming tools.

Investors see this as a timely opportunity in a sector expected to grow by more than 20% annually through 2030.

“Technology is transforming how we grow food,” said Lim. “Our focus is not just on yields but on creating systems that make farming predictable and accessible.”

While profitability remains a challenge due to high setup costs, Agroz’s Nasdaq debut positions it to strengthen Southeast Asia’s agri-tech market.

The firm plans to use the IPO proceeds to fund regional growth, research, and new AI applications that could shape the future of controlled-environment farming.

As global demand for reliable and sustainable food systems grows, Agroz’s entry into the U.S. market signals rising confidence in high-tech farming as a long-term solution to food security.

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