UAE Ag Tech Start-Up Pure Harvest Smart Farms Raises $20.6 Million

Reuters News reported this week that, “United Arab Emirates agriculture technology start-up Pure Harvest Smart Farms has raised $20.6 million in fresh funding and secured commitments for a further $100 million, it said on Monday.

“Wafra International, an investment firm owned by the Kuwait state pension agency, is investing $10 million of the new funding, and committing $100 million in equity and project financing.

The food technology industry is still nascent in Gulf Arab states, where there is sparse arable land and temperatures in the summer rise above 50 degrees Centigrade (122°F).”

The Reuters article noted that, “Pure Harvest Smart Farms supplies tomatoes grown in an enclosed, environment-controlled farm to supermarkets, hotels and restaurants in the UAE.”

This entry was posted in Agriculture Law, Start-up Company Law. Bookmark the permalink. Both comments and trackbacks are currently closed.