Pure Harvest enters joint venture with Korea’s PlanTFarm, securing $64.5 million in funding
UAE-based AgriTech startup, Pure Harvest Smart Farms, has entered a joint venture partnership with Korea’s PlanTFarm, a vertical farming solutions provider and part of the portfolio of IMM Investment that invested part of the recent $64.5M in growth capital alongside existing investors.
PlanTFarm is one of the world’s largest and most innovative vertical farming solutions providers. This pioneering smart farming Tech partnership between the two companies enables Pure Harvest Smart Farms to serve as an “omnibus” controlled-environment solutions provider, adding new controlled-environment agriculture (CEA) growing systems to its existing portfolio ranging from retailer-integrated in-store farms to large-scale, warehouse-style indoor vertical farms, and adds 100+ commercially proven crops.
Fuelled by this recent, much-needed growth capital and the new partnership, Pure Harvest’s Founder and Chief Executive, Sky Kurtz, elaborated. “IMM will bring tremendous value supporting our expansion into Asia. Most importantly, we share the same values and vision for building a more resilient and sustainable food system for the world, tackling food security challenges and localizing food production anywhere – even in the harshest climate environments.”
Upon final completion of its ongoing projects, Pure Harvest will operate over 18 hectares of production capacity across numerous crops and will employ over 300 people. The UAE-based Agritech plans to channel its newly acquired funds into developing its technology and R&D efforts, further growing its team, and support its expansion across the MENASA region.
Today Pure Harvest operates three farms in the UAE with the fourth and fifth projects under development in the Kingdom of Saudi Arabia and Kuwait, respectively. It currently produces a variety of crops including tomatoes, leafy greens and strawberries, and is gaining widespread recognition as the trusted fresh produce brand, recognized as the GCC’s homegrown CEA champion.