Red Sea Farms, a Saudi Arabian startup developing saltwater-tolerant crops and saltwater-based greenhouses in the Middle East, has secured $1.9 million in funding.
The startup raised funding to build a 2,000 square meter saltwater greenhouse in Saudi Arabia comes from the country’s King Abdullah University of Science and Technology (KAUST) Innovation Fund and the Research Products Development Company (RPDC).
The British Government’s Food, Farming and Environment Minister, Michael Gove, has promised to deliver an ambitious new UK food strategy in 2019, embrace a properly funded 25-year environment plan and commit to rising investments in agritech.
Canadian vertical farming systems developer Inno-3B has completed its first seed round of financing at nearly C$6 million ($4.45m).
Located in Quebec and Ontario, the company provides turnkey vertical farming systems for a variety of customers, from researchers, biotechnologists, and small-scale farmers, to regional and multinational producers.
Tarfin, the Turkish digital platform that enables farmers to access agriculture inputs through instant financing solutions, recently completed a $1.3 million seed round.
Collective Spark Fund, a venture capital fund focusing on early-stage technology startups in fintech, consumer tech, and SaaS, led the round with a co-investment from Wamda Capital, a multistage VC focused on digital disruption.
Leading British politicians and AgriTech industry representatives met in the House of Commons in London this week to focus attention on the development of a £500 million ($650 million) AgriTech Cluster, to be located on the edge of the university town of Cambridge, in the UK.