Series A

Pre-Series A

Series C

Kuwait

Ghazi Al Hajeri

Abdulmohsin Al Mukhaizeem

Feras Al Rushaid

Bader Abdullah Al Kandari

If you're ready to take your business to the next level with Wafra International Investment, we want to hear your pitch.

Investment in Startup

Discover Wafra International Investment's expertise in funding Agriculture. Portfolio insights are on Lucidity Insights.

Wafra International Investment

Agriculture

Wafra International Investment Company manages diverse portfolios and investment funds with highly qualified personnel experienced in investment and asset management who prioritize building client relationships based on trust, honesty, and transparency.

Abu Dhabi

Debt Financing

Pure Harvest

Foodtech

Renewables

Environment

Sustainable

Agritech

Agribusiness

A pioneering agritech company, Pure Harvest commits to sustainably producing fresh fruits and vegetables using innovative technology in controlled-environment agriculture.

Dammam

Sary

E-Commerce

Marketplace

Retail & Wholesale

MENAP B2B marketplace connecting small businesses with wholesalers and lenders to procure supply efficiently.

Cairo

WideBot

AI/IoT

Machine Learning

Generative AI

Chatbot

Conversational AI Platform that build AI-enabled chatbots that communicate in formal and informal Middle Eastern languages.

Riyadh

WideBot AI

Artificial Intelligence (AI)

WideBot with its AI-generative model, ‘AQL’ Large Language Model (LLM), is here to empower governments and enterprises with AI-powered solutions to optimize operations, enhance customer experience, and drive innovation across the MENA region.

<a href="https://techcrunch.com/video/startup-battlefield-mena-2018-pure-harvest/">Pure Harvest Smart Farms</a>, a startup developing technology-enhanced greenhouses for agricultural developments across the Middle East, has received a commitment of up to $100 million from Wafra, Kuwait&rsquo;s national investment company.

The first fruits of that commitment are coming through in the form of a commitment from Wafra to lead Pure Harvest&rsquo;s $20.6 million Series A financing, the company said.

Pure Harvest first hit the international investment stage as part of a cohort of companies selected to compete in TechCrunch&rsquo;s Startup Battlefield MENA competition, conducted through a partnership with Facebook.

The multi-stage investment commitment, valued at over $100 million, comes from Wafra International Investment Company (a wholly owned subsidiary of The Public Institution for Social Security) and represents the largest commitment to a regional agricultural technology company in the Middle East.

As a result of the investment, Ghazi Al-Hajeri, the chief executive of Wafra, will join Pure Harvest&rsquo;s Board of Directors, the company said.

Pure Harvest said that the new investment will be used to continue the development of controlled-environment agricultural facilities &mdash; like greenhouses &mdash; to cultivate pesticide-free fresh fruits and vegetables.

&ldquo;The global need for innovation in agriculture has never been greater.&nbsp; The recent COVID-19 crisis and resulting supply chain disruptions further highlight the need for sustainable local-for-local food production capacity, especially for fresh, nutrient-rich foods,&rdquo; said Sky Kurtz, the founder and chief executive of Pure Harvest Smart Farms. &ldquo;Together with structured debt financing that we are simultaneously arranging, we will invest Wafra&rsquo;s funds in growth, key hires, enhancing our technology portfolio, and ultimately to deliver our solution across the region &ndash; including in Wafra&rsquo;s home market of Kuwait.&rdquo;

Smart agriculture will continue to be an important area for investment as the food supply chain comes under increasing stresses resulting from a changing climate. Desertification, drought, flooding and wide climatic shifts&nbsp;are putting more pressure on the global food chain, according to the United Nations.

In the U.S. that&rsquo;s driven investments in companies like AppHarvest, Backyard Farms, Bright Farms, Lufa Farms, Plenty and Square Roots. Plenty alone has raised $401 million for its indoor agricultural cultivation system. In France, Agricool has over $38 million for its own indoor agriculture tech.

&ldquo;Wafra&rsquo;s investment comes at an exciting time and will allow Pure Harvest to achieve industrial economies of scale as the Company roles out its next generation of advanced greenhouse designs optimized for profitability and sustainability within the MENA region,&rdquo; said David Scott, Pure Harvest&rsquo;s chairman, in a statement. &ldquo;This investment also demonstrates the caliber and far-sighted acumen of Wafra&rsquo;s leadership, whose actions have placed their institution on the virtuous side of the irresistible macro trends driving explosive growth in technology-enabled agriculture in this region and beyond.&rdquo;

Kuwaiti investment company commits up to $100 million to Startup Battlefield alum Pure Harvest

UAE-based Pure Harvest Smart Farms, an agriculture tech (agritech) startup, has raised $20.6 million in its Series A round, led by Kuwait-based Wafra International Investment Company which injected $10 million into the round with a multi-stage investment commitment of $100 million to support future expansion in the Middle East.

To date, this is the largest agritech investment in the Middle East and North Africa (Mena) region. Founded in 2016, Pure Harvest is one of the first hydroponic farms in Mena, growing tomatoes in a sensor-filled greenhouse. Its technology allows fruits and vegetables to be grown in a coconut shaving solution without the need for fertilisers and pesticides and uses just a fraction of the water needed for plants grown in soil.

“The global need for innovation in agriculture has never been greater.  The recent COVID-19 crisis and resulting supply chain disruptions further highlight the need for sustainable local-for-local food production capacity, especially for fresh, nutrient-rich foods,” said Sky Kurtz, founder and chief executive officer (CEO) at Pure Harvest. “This…investment commitment from Wafra has given us the resources needed to secure our foothold as a pioneer in controlled-environment agriculture in the Middle East.” 

Pure Harvest is also working with Wafra to arrange a structured debt financing which will help fuel its growth, enhance its technology and expand its team and presence in the GCC.

Pure Harvest secures $100 million multi-stage commitment from Wafra

Riyadh-based AI startup WideBot.ai raised USD 3 million in a pre-series A investment round. The round was led by Wafra-backed Keheilan Asset Management II, Enza Capital, and DisrupTech Ventures, LoftyInc Capital, Den VC, and SparkLabs Ventures.

WideBot AI Raises USD 3M in a Pre-Series A Funding Round

WideBot AI, a company specializing in the development of AI products, solutions, and models, has secured $3 million in a Pre-Series A funding round.
WideBot closed this funding round with the leadership of Keheilan Asset Management, supported by Saudi-based Al Wafra II, alongside direct investment firm Enza Capital.
Other notable participants in this round include DisrupTech Ventures, Den VC, and SparkLabs Ventures.

From the Heart of Riyadh to the Entire Arab World… WideBot AI Secures $3M in Pre-Series A Funding Led by Keheilan Fund to Enhance AI Models Development in Saudi Arabia

Saudi-based B2B platform Sary has raised $75 million in its Series C funding led by the kingdom&#39;s PIF-owned Sanabil Investments and with participation from other investors.

The digital marketplace has now raised $112 million to date. Other participants in its latest round of funding included Wafra International Investment Company and Endeavor Catalyst.

The startup which already has 350,000 customers and serves more than 40,000 businesses, raised $30.5 million in its Series B funding earlier this year.

Founded by Mohammed Aldossary, former general manager of Careem and his co-founder Khaled Alsiar in April 2018, Sary connects small businesses with wholesalers and brands in one place to procure supply efficiently, according to the company&rsquo;s website.

&ldquo;Over the last 24 months, Sary has built one of the largest and most efficient FMCG distribution networks in KSA. As a Saudi-based startup, the $1.59 trillion broader GCC market is a natural next step for us. We believe the $90 billion intra-trade across the six countries can be realized with a digitized supply chain that brings efficiency, connectivity, and scalability to local creators and traders,&rdquo; UAE-based Magnitt quoted Mohammed Aldossary as saying.

The new funding is expected to help Sary expand its geographical reach across the GCC states and ramp up its FMCG distribution network.

Saudi-based startup Sary raises $75mln in Series C funding

Saudi Arabia B2B e-commerce marketplace Sary has raised SR281 million ($75 million) in a Series C round led by Sanabil Investments, with participation from Wafra International Investment Company and Endeavor Catalyst alongside existing investors STV, MSA Capital, Rocketship.vc, VentureSouq, and Ra’ed Ventures. 
This round takes the total raised by the startup to $112 million.
Founded in 2018 by Mohammed Aldossary and Khaled Alsiari, Sary connects small retailers with a network of wholesalers and manufacturers on its platform.
This comes seven months after Sary raised its $30.5 million Series B round. 
Sary plans to use the fresh funds to invest in product development and geographical expansion.

Sary raises $75 million Series C round

Riyadh, Saudi Arabia: 19th December, 2021 – Sary– the Saudi-based B2B digital marketplace that connects micro, small and medium-sized businesses (MSMEs) with a network of wholesalers and manufacturing brands to procure supply efficiently – today announced it raised $75 million in Series C funding. The investment was led by Sanabil Investments, wholly owned by the Public Investment Fund (PIF), with participation from new investors  Wafra International Investment Company and Endeavor Catalyst alongside existing investors STV, MSA Capital, Rocketship.vc, VentureSouq, and Ra’ed Ventures. The Company has raised a total of $112 million in funding to date.

Wafra International Investment

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies
or Investments

Executive Team Members

Wafra International Investment

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies or Investments

Executive Team Members

Portfolio Companies
or Investments