Pure Harvest Smart Farms is a startup developing technology-rich greenhouses for development in agricultural sectors throughout the Middle East. Recently, it has received an agreement of around $100 million from Wafra, which is Kuwait’s national investment company.
The initial results of that agreement are arriving in the form of an agreement from Wafra to guide the Pure Harvest Smart Farms’ $20.6 million Series A financing. As a part of a companion of the companies chosen to face the Startup Battlefield MENA competition of TechCrunch, Pure Harvest has hit the international investment platform.
The multi-stage investment agreement, which is valued more than $100 million, appears from the Wafra International Investment Company and exhibits the greatest agreement to a regional agricultural firm in the Middle East.
As a consequence of the investment, the chief executive of the Wafra, named Ghazi Al Hajeri, will participate in the Board of Directors of Harvest. Pure Harvest said that the new investment would be utilized to resume the growth of controlled condition agricultural facilities to practice cultivating fresh and pesticide-free vegetables and fruits.
The founder and chief executive of the Pure Harvest Smart Farms, Sky Kurtz, said that the global requirement for innovation in the agricultural section had never been so great, and the latest COVID-19 crisis highlights the necessity of sustainable local for local food production capability, particularly for nutrient-rich and fresh foods. Sky Kurtz also said that they would invest the funds of Wafra in development, key hires, and enhance their technology profile and ultimately would deliver their solution throughout the region.