Pure Harvest Smart Farms, an Abu Dhabi – United Arab Emirates-based company focused on sustainable technology-enabled agribusiness, raised USD64M in Growth funding.
The round, which brought cumulative capital invested to USD 271.6m, was led by IMM Investment Corp., together with existing investors and management.
the company intends to use the funds to accelerate technology expansion and development efforts.
Led by Sky Kurtz, Founder and Chief Executive, Pure Harvest Smart Farms provides operates three farms in the UAE with the fourth and fifth projects under development in the Kingdom of Saudi Arabia and Kuwait, respectively. The Company currently produces a variety of crops including tomatoes, leafy greens and strawberries. Upon final completion of the beforementioned in-progress projects, the company will operate over 18 hectares of production capacity across numerous crops and will employ over 300 people.
The funding announcement accompanies Pure Harvest’s joint venture partnership with PlanTFarm, one of the world’s largest and most innovative vertical farming solutions providers, whereby the partners will jointly design, build and operate indoor vertical farms, deploying PlanTFarm’s proprietary vertical farming systems.
The smart farming technology union enables Pure Harvest Smart Farms to serve as an “omnibus” controlled-environment solutions provider, adding new CEA growing systems to its existing portfolio (ranging from retailer-integrated in-store farms to large-scale, warehouse-style indoor vertical farms), and adds 100+ commercially proven crops, including [to confirm list of most exciting, commercially relevant crops that are proven in PF’s systems].
FinSMEs
28/10/2021