Pure Harvest will use the investment for multi-phase regional expansion to offer sustainably-grown safe fresh produce across the GCC
Pure Harvest focuses on sustainably producing quality fresh fruits and vegetables irrespective of outdoor climate conditions. (Credit: congerdesign from Pixabay)
UAE-based agriculture technology start-up Pure Harvest Smart Farms has received a multi-stage investment commitment of more than $100m from Kuwait-based Wafra International Investment.
Pure Harvest has secured a $20.6m in a Series A financing round, including $10m funding from the Wafra, a wholly-owned subsidiary of The Public Institution for Social Security.
The deal will allow Wafra CEO Ghazi Al-Hajeri to join the Pure Harvest’s board of directors.
Al-Hajeri said: “The Arabian Gulf food system is undergoing a monumental shift toward a technology-enabled farming model in order to meet consumer demands for affordable, high-quality foods.”
Wafra’s strategic investment will help Pure Harvest to advance its development and implementation of advanced controlled-environment agriculture solutions across the region to sustainably produce quality fresh fruits and vegetables irrespective of outdoor climate conditions.
Pure Harvest builds and manages climate-controlled greenhouse systems
Pure Harvest is involved in the designing, building, and management of high-tech and climate-controlled greenhouse systems, which convert the region’s extensive natural sunlight into the quality and pesticide-free fresh fruits and vegetables.
The company works to establish an optimal growing environment anywhere using less water compared to traditional forms of agriculture.
It has core innovations in climate management solutions to improve control of humidity and temperature.
Pure Harvest Smart Farms founder and CEO Sky Kurtz said: The global need for innovation in agriculture has never been greater. The recent COVID-19 crisis and resulting supply chain disruptions further highlight the need for sustainable local-for-local food production capacity, especially for fresh, nutrient-rich foods.
“This visionary multi-phase investment commitment from Wafra has given us the resources needed to secure our foothold as a pioneer in controlled-environment agriculture in the Middle East.”