Wafra International Investment Company (Kuwait) Leads Push For GCC Food Security With USD $100 Million Commitment to Regional Agtech Leader Pure Harvest Smart Farms
Wafra International Investment Company (Kuwait) Leads Push For GCC Food Security With USD $100 Million Commitment to Regional Agtech Leader Pure Harvest Smart Farms
04/06/20, 8:07 AM
Location
abu dhabiMoney raised
$100 million
Pure Harvest Smart Farms (the “Company”), the region’s leading tech-enabled agribusiness, announced today it has secured a multi-stage investment commitment valued at over USD $100 million with Wafra International Investment Company (“Wafra”), a wholly owned subsidiary of The Public Institution for Social Security, making it the largest-ever agriculture technology investment in the MENAPT region. In connection with the investment in Pure Harvest Smart Farms, Ghazi Al-Hajeri, CEO of Wafra, will join Pure Harvest’s Board of Directors.
Company Info
Location
abu dhabi, abu dhabi emirate, united arab emirates
Additional Info
The company will utilize the capital, together with various forms of debt financing, to invest in research and development, to expand its footprint across the GCC, and to open new markets in Asia. The company is also investigating a number of new growth initiatives, including product extensions and water-efficient CEA solutions for fodder production.