Published 15 Aug,2021 via Arab News - Economy - DUBAI - Saudi agricultural technology startup Red Sea Farms has secured $16 million in its latest funding round, exceeding the initial target thanks to strong investor interest.
The agtech startup, which enables farming of produce using primarily salt water and sunlight, will use the capital injection to expand its operations in the region and beyond.
“Red Sea Farms is thrilled to have substantially exceeded its target for the current funding round,” its CEO Ryan Lefers said in a statement.
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