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The AgTech business raised $18.5 million due to continuous advancements in technology

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The Saudi Arabian and UAE AgTech business, Red Sea Farms, owns a technology that allows commercial farmers to use low energy and zero freshwater for sustainable climate control. This technology has enabled the Red Sea Farms to generate $18.5 million in a fundraise. The leading investors participating in the fundraising include Wa’ed, KAUST Innovation Fund, and OlsonUbben LLC. The proceeds will help the Red Sea Farms execute its regional and global expansion plans, focusing on tech development and productisation.

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ConsumerGeniuses

Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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