UAE: Pure Harvest raises $4.5 million in seed investment

A historic seed investment of $4.5 million has been secured by tech-enabled arid climate agribusiness Pure Harvest Smart Farms, based in Abu Dhabi.

The financing round was significantly oversubscribed and follows an earlier $1.1 million pre-seed round led by Abu Dhabi-based Shorooq Investments.

Venture financing was provided by a leading federal government-backed fund, the company’s technology partners and a consortium of angel investors from around the world.

The seed funding will be used for the construction of Pure Harvest’s inaugural high-tech, fully climate controlled greenhouse facility in Nahel, in the UAE. The company expects to complete the facility by mid-year and to begin selling its products in the second half of 2018.

Read more at StartUp (Kay Marham)

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