Pure Harvest raises $4.5m in seed funding

DUABI

Abu Dhabi-based start-up Pure Harvest Smart Farms has raised $4.5 million in seed funding to deploy a high-tech and fully climate-controlled greenhouse facility in Nahel (a locality in Al Ain) to deliver year-round and premium quality fresh produce in the UAE.

Sky Kurtz, co-founder and chief executive of Pure Harvest, told Gulf News that the company had raised a $1.1 million pre-seed round earlier led by Abu Dhabi-based Shorooq Investments to acquire the farm as well design the engineering works etc.

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

Kurtz claims that the $4.5 million is the largest seed financing to date in the Middle East and North Africa region. “We look to upsize the seed investment round as we have commitments for $4.8 million and more,” he said.

Pure Harvest aims to offer a true and tangible food security solution to the region by overcoming the harsh, arid climate and increasingly scarce fresh water resources in order to grow premium quality local fresh fruits and vegetables all year round.

Kurtz said the Abu Dhabi greenhouse facility is expected to be completed by midyear and to begin selling its products in the second half of next year.

Following the demonstration of its technology and its ability to serve the fast-growing demand for fresh local produce, Pure Harvest intends to quickly expand in the region, their next target is Saudi Arabia by the fourth quarter of next year.

He said the UAE and the region imports 80 per cent of its fresh produce and that there are huge growth opportunities. “We believe that we can transform the Middle East agriculture sector with a highly scalable business We expect the produce to be sold directly to the market and not to distributors. We can bring the cost down and bring the ability and affordability of premium quality fresh produce,” he said.

Pure Harvest also announced the appointment of a new adviser and Saudi Arabia local partner, Prince Sultan Bin Khalid Al Saud.

Mahmoud Adi, co-founder at Pure Harvest and the founding Partner of Shorooq Investments, said that the new facility will address food security concerns and to take a giant step forward to be less dependent on international imports for fresh produce, which will directly contribute to the UAE’s long-term sustainability.