Red Sea Farms, a Saudi Arabian AgTech startup has received a $10M Pre-Series A investment led by Wa’ed, Future Investment Initiative Institute, KAUST, and Global Ventures.
Red Sea Farms was established in 2018 by Ryan Lefers and Mark Tester, with a vision to reduce food insecurity, carbon, and freshwater use in the global and Gulf food sectors. The company’s unique, end-to-end growing system primarily uses saltwater, cutting fresh-water consumption by 85 to 90 percent. Through a patented system of new, more efficient solar and growth monitoring technologies, saltwater replaces freshwater typically used to cool greenhouses and irrigate crops.
Ryan Lefers, Red Sea Farm’s co-founder, commented “We are proud to have designed, developed and delivered one of the world’s most sustainable agricultural systems from our base in Saudi Arabia. The investment from our new partners will help us improve global food security while reducing the carbon and fresh-water footprint.”