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Pure Harvest Smart Farms adopts Honeywell technology tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
We are doubling down on our thesis, on our business model and growing more aggressively - Majed Halawi As the development of controlled-environment farming builds around the world, Simon Harvey speaks with Majed Halawi, the vice president for growth at Abu Dhabi-based Pure Harvest, about the company s growth plans. Pure Harvest in Abu Dhabi has ambitious plans to become a regional powerhouse across the Middle East of fruits and vegetables grown in a controlled, indoor environment, as the emirate seeks to reduce reliance on food imports. Five years since the business was founded in 2016, Pure Harvest has a third facility about to come on stream in the United Arab Emirates, and two more in the pipeline in Saudi Arabia and Kuwait. ....
Pure Harvest announces sukuk funding, raises $60 million this year Sky Kurtz, founder and CEO of Pure Harvest Smart Farms UAE-based, agritech Pure Harvest Smart Farms has raised $50 million in growth funding through a sukuk, an Islamic structured finance product similar to a bond, led by SHUAA Capital. It marks the first time that a startup in the Middle East has raised venture-debt in this way and comes after it closed a $10 million growth equity round from Sancta Capital in January this year. The startup has raised more than $200 million to date. Founded in Abu Dhabi in 2016, Pure Harvest uses hydroponic farming solutions and internet of things (IOT) technology to grow fruits and vegetables in the region’s arid climate. The latest round will be used to grow its team, invest in research and development and expand its services in the UAE, where it is nearing the completion of this third greenhouse. It is also constructing greenhouses in Saudi Arabia and Kuwait, for w ....
SHARE Abu Dhabi agritech company Pure Harvest Smart Farms secured $60 million through two financing deals and may look to raise another $100m this year as it scales up operations and expands into other GCC markets. The company obtained $50m through a Shuaa Capital-led structured Islamic debt deal in which Sancta Capital and Franklin Templeton were anchor investors. It follows a $10m equity financing round led by Sancta Capital in January. The funding “supports our aggressive growth campaign within the GCC region”, said Sky Kurtz, co-founder and chief executive of Pure Harvest. “This type of financing underscores the innovation occurring within the region’s venture capital markets.” ....