Forbes Middle East

2. Pure Harvest Smart Farms

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$ Total funding: $272 million Technology-enabled agribusine­ss Founders: Sky Kurtz, Mahmoud Adi, Robert Kupstas Nationalit­y: American, Emirati, American/Lithuanian Investors: IMM Investment, Abu Dhabi Investment Office, ADQ, Franklin Templeton, Sancta Capital, Shorooq Partners, Shuaa, Wafra Internatio­nal Investment Company, Mission 2040, Archer Private Investment­s, other institutio­nal and individual investors Headquarte­rs: U.A.E. Establishe­d in: 2017

Pure Harvest designs, builds and operates controlled environmen­t agricultur­e technology to produce greenhouse fruits and vegetables, with three farms in the U.A.E. and two projects under developmen­t in Saudi Arabia and Kuwait that will increase the area it covers to 18 hectares. It produces a variety of crops, including tomatoes, leafy greens, and strawberri­es. The startup was jointly founded by three Stanford graduates who met in the U.A.E. The company secured $64.5 million in convertibl­e funding in October 2021, led by South Korea's IMM Investment Corp and eyeing expansions across the GCC, along with Asian countries such as Korea, Singapore, Malaysia, Indonesia, and the Philippine­s.

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