Pure Harvest Smart Farms, a sustainable technology-enabled agribusiness headquartered in the United Arab Emirates, has raised $180.5 million in their latest growth funding round.
The financing was provided by a consortium of key global investors,U.K.-based Metric Capital Partners; South Korea–based IMM Investment Corp.; and Olayan Group, an international investor that began as a commercial operator in the Kingdom of Saudi Arabia; joined by several existing investors and management. 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 Gulf Cooperation Council (GCC), and to open new markets in Asia.
This represents the largest-ever convertible financing in the MEASA region. The funding round was vastly oversubscribed, and a few strategic investors are still in discussions for further upsizing, underscoring the strong institutional investor appetite for Pure Harvest
