https://arab.news/57ejw
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DUBAI: Shuaa Capital has led a $50 million structured sukuk for Pure Harvest Smart Farms, the UAE-based agribusiness.
Shuaa also co-invested in Pure Harvest through its managed funds, the Dubai-based asset manager said in a filing on Monday.
Pure Harvest has also raised $10 million in growth equity.
It represents the first time in the region that an early-stage business has been able to secure venture debt funding from capital markets, Shuaa said.
鈥淲e see exciting potential in the technology space and this is a great example of how we are executing on our stated strategy to focus on this area,鈥� said Shuaa CEO Jassim Alseddiqi
Founded in Abu Dhabi to address the gap in local, sustainable food sources, Pure Harvest is soon to complete its second high-tech hybrid greenhouse growing system within the Emirates and is also setting up in 抖阴短视频.
It will produce a variety of tomatoes, leafy greens and berries,with plans to continue to diversify its offering in the future.