Successful Funding Round for Crysp Farms: Crysp Farms, a leading innovator in decentralized vertical farming within the GCC, has secured a substantial $2.25 million in a ‘Pre-Series A’ funding round led by Gate Capital, with active participation from regional investors in the UAE and Saudi Arabia.
Hyperlocal Farming for Food Security: As a pioneering ‘Farming as a Service’ provider, Crysp Farms specializes in bespoke onsite hydroponic farms, catering to diverse sectors such as hospitality, healthcare, restaurants, and hypermarkets.
Strategic Expansion and Sustainability Goals: Crysp Farms, standing out as the sole hyperlocal farming provider in the region, focuses on minimizing food wastage and reducing greenhouse gas emissions.
Crysp Farms, the GCC’s foremost innovator in decentralized vertical farming, secured a $2.25 million ‘Pre-Series A’ funding round, structured and led by Gate Capital, according to a company statement.
Regional investors from the UAE and Saudi Arabia also participated in this significant financial backing.
As a local pioneer in ‘Farming as a Service,’ Crysp Farms specializes in designing and operating bespoke onsite hydroponic farms tailored for hospitality groups, healthcare facilities, restaurants, and hypermarkets.
The funding will primarily fuel the company’s expansion strategy throughout the region, supporting international contracts.
Crysp Farms stands out as the only hyperlocal farming provider in the region, addressing crucial aspects of the food security agenda.
Their farms offer continuous access to fresh produce onsite, minimizing greenhouse gas emissions and aligning with COP28 goals.
With close to zero spoilage, Crysp Farms significantly contributes to reducing food wastage, in line with the Food and Agriculture Organisation of the United Nations (FAO) statistics.
The current funding round will drive Crysp Farms to expand strategically, introducing new farms in renowned hotels and resorts managed by global leaders like Hilton Worldwide, Jumeirah Group, and Marriott International.
The company has recently partnered with five new properties, extending its sustainable farms to over 20 locations across the UAE, with further plans in the pipeline for regional and international destinations, including the Seychelles and Maldives.
Immediate plans include expansion into Saudi Arabia, aligning with Saudi Vision 2030, to enhance local food production using innovative technology.
Maan Said, CEO and founder of Crysp Farms, expressed excitement about the investment, stating, “This financial and strategic investment opens up opportunities and enables the business to scale exponentially across our target markets.”
Munther Hilal, Chief Executive and Founder of Gate Capital highlighted Crysp Farms’ transformation into a tangible green investment opportunity with a commitment to impactful growth.
Crysp Farms, rooted in controlled-environment agriculture using hydroponics, focuses on delivering the freshest ingredients directly to tables with minimal steps. With sustainable farming practices and a diverse range of produce, Crysp Farms aims to fulfill the market gap for ultra-fresh, high-quality, locally sourced produce.
The roadmap for 2024 anticipates substantial growth with new partners, expansion into new geographies, and diversification into various sectors.
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