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This UAE Based Startup Pure Harvest Plans to Open New Markets in Asia

Pure Harvest Smart Farms (Pure Harvest) has raised USD $180.5 million in their latest growth funding round.

Pure Harvest Smart Farms’ technology-enabled agribusiness in the United Arab Emirates, focused on the year-round, sustainable production of premium-quality fresh fruits and vegetables.

Pure-harvestAs innovators of the Middle East’s first commercial-scale, semi-automated high-tech hybrid growing system, Pure Harvest leverages innovative growing technologies and horticultural best practices to enable local-for-local production of affordable, sustainably-grown, clean fresh produce anywhere. Pure Harvest is pioneering controlled-environment agriculture (CEA) in the MEASA region, harnessing technology to tackle some of the region’s biggest problems, including food security, water conservation, economic diversification, and sustainability needs.

Pure Harvest Smart Farms (Pure Harvest) has raised USD $180.5 million in their latest growth funding round. The financing was embraced by a consortium of key global investors, including Metric Capital Partners, UK, IMM Investment Corp, Korea, and Olayan Group, KSA, joined by several existing investors and management.

Sky Kurtz, Co-Founder and CEO at Pure Harvest Smart Farms, said: “We are humbled by this investment from an esteemed group of global investors, backing our mission: to harness the wonders of science, the power of nature, and the passions of people to provide tasty, affordable, sustainably-grown fresh produce anywhere.  At Pure Harvest we have demonstrated we can reliably deploy our high-tech farming solutions across the GCC.  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. The future of farming is here… now, we have the resources to bring our solution to the world.”

Metric Capital Partners, the London headquartered, pan-European private equity investor providing capital solutions to mid-sized companies across a wide variety of industries, was a co-lead investor. Bjørn Tessiore, Partner at Metric Capital Partners said: “We are delighted to support the continued growth of Pure Harvest. It’s clear that controlled-environment agriculture is becoming increasingly important as a solution to food security issues while also mitigating the environmental impact of food production. We believe Pure Harvest is extremely well positioned to thrive in this growing market driven by its excellent team, innovative approach, and proven track record of building and operating at scale in a region characterized by difficult climatic conditions for agriculture.”

This latest round of fundraising cements Pure Harvest’s leadership position as the pioneer in CEA in harsh climates.  This fundraise, together with the sizable research and development incentives secured from the Abu Dhabi Investment Office in 2020, will allow Pure Harvest to accelerate its growth plans, deploying growing systems in new markets and increasing research and development investments.  The company is also investigating a number of new growth initiatives, including product extensions and water-efficient CEA solutions for fodder production.

The company will utilize the capital, together with various forms of debt financing, to invest in research and development, expand its footprint across the GCC, and to open new markets in Asia.

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Nitisha Dubey

I am a Journalist with a post graduate degree in Journalism & Mass Communication. I love reading non-fiction books, exploring different destinations and varieties of cuisines. Biographies and historical movies are few favourites.

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