Saudi Start Up Tests New Solutions
Start-up company, Red Sea Farms has implied its interest and commitment to caring immensely for the planet. They believe that people should care for the planet just like we care for other people. Red Sea Farms’ innovation has fetched eyes from across the globe from agricultural and governing organizations. Red Farms Seas merges innovation with science and logic by creating a new strategy with the help of sunlight-based agriculture commodities and saltwater. This is a big game-changer as it will help solve the freshwater shortage crisis. It is estimated by their report that 85% to 90 % of freshwater consumption will be halted by using their agricultural growing methodology.
Ryan Lefers and Mark Tester founded Res Sea Farms in 2018. The whole purpose was to offer the most affected agricultural zones with new technology that can enable commercial farming to use the abundant saltwater and sunlight available on the planet. This will help reduce the dependency on freshwater for agriculture and be diverted towards human and animal consumption. This is not the only benefit as the procedure will also battle the food shortages and decrease the carbon footprint on the planet.
Saudi Arabian’s startup aggrotech firm Red Sea Farms has so far raised over $16 million in their funding round just at pre-series. This initiative was led by ARAMCO’s venture capitalist wing Wa’ed, Saudi’s very own state-owned FII (Future Investment Initiative), US-based VCs AppHarvest and Bonaventure, Institute the King Abdullah University of Science and Technology (KAUST), and Dubai-based Global Ventures. Investors’ interest has already peaked for the next round of funding for Red Sea Farms which is planned for 2022. The drive will pursue centric environmental sustainability.
CEO Ryan Lefers herald the target funding and said – “It will accelerate our plans to roll out our technology in Saudi, the Middle East, and North America.”
Red Sea Farms is all set to work and collaborate with huge investors which also involves APPHarvest (Indoor farm builders) who are responsible for the world’s largest farm in the Appalachian section of the US. Their aim is also to expand even further in the Middle East, and Saudi and also to regard US agricultural prospects.
Managing Director at Wa’ed, Fahad Alidi said – “Red Sea Farms has developed a truly innovative and sustainable business model that not only addresses a global issue around food security and limited agricultural resources but one that is also regionally relevant. Wa’ed is proud to be one of the early supporters to back the pioneering team at Red Sea Farms as they tackle an emerging aggrotech industry with decades-long interdisciplinary research.”
The Benefits Of Using Red Sea Farms Technology: –
Accurate Climate To Grow Specific Agricultural Products
Utilizing saltwater and sunlight as the base element, the procedure alone is set to save 300 liters of freshwater per kilogram of yield produced. Saltwater is utilized for liquid desiccants used in night chilling, evaporation cooling, and solar-operated fan systems to save energy by using power-generated films.
Red Sea Farms CEA’s innovative technology can be installed at any existing or even a new controlled agricultural facility. This same facility can even house domestic animal farming with power efficiency. The company has offered energy sustainability by leveraging solar and water inputs to create smart farming at its best.
Tolerant Plant Aggrotech
Their crops are created by the world’s most experienced scientists. The crops are more tolerant to salt, drought, and heat which makes saltwater and hot areas a goldmine for their application. These crops have been proved to work well if irrigated with even brackish water. They also follow a non-GMO policy using biotechnology. They can offer seedings to progress agricultural regions with harsh temperatures and terrains.
The Saudi start-up has proven its value in Q1 2022 with a 62% dealership for large staging investments. This includes a $50 million raised by Q-commerce initiatives. Even Nana, a tech enterprise has started MasterWorks with a $40 million deal in March, and Series A which is a Fintech Lean Technologies.
The deal falls just behind the Red Sea Farms report that informed they would be expanding their reach with a fresh look into a business initiative with the GCC to concentrate on development and production.