Pure Harvest Smart Farms, UAE-based sustainable tech-enabled agribusiness, raised $180.5 million in their latest growth funding round. The round included global investors such as: Metric Capital Partners, UK, IMM Investment Corp, Korea, and Olayan Group, KSA, joined by several existing investors and management.
The agribusiness will use the raised fund, together with various forms of debt financing, to invest in research and development, to expand its footprint across the GCC, and to open new markets in Asia.
“Now it is time to enter new markets that share similar challenges to our own fast-growing populations, seasonal import-dependence, and an awareness of the crippling effects that short-term crises (e.g. COVID-19, Russia-Ukraine conflict), and climate change, are having on our global food system,” Sky Kurtz, Co-Founder and CEO at Pure Harvest Smart Farms, said.
The company aims to accelerate its growth plans, deploy growing systems in new markets and increase research and development investments, it is also investigating a number of new growth initiatives, including product extensions and water-efficient CEA solutions for fodder production according to their press statement.
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