With the help of Executive Partners Marc and Anthony Eid, Arable, a Saudi-based AgriTech startup co-founded by CEO Lawrence Ong and COO Christina Khalife, has successfully closed a $2.55 million (SAR9.75 million) seed funding round to introduce sustainable hydroponic farming in the Kingdom. Institutional and private investors participated in the round; 90% of the funds were from foreign investors and were used domestically in Saudi Arabia to develop the Kingdom’s agriculture industry.
A Domestic Response to Saudi Arabia’s Needs in Agriculture By creating, producing, and managing hydroponic vegetable farming systems that are especially suited to Saudi Arabia’s distinct climate, Arable is revolutionizing agriculture in the Kingdom.
Arable’s systems are designed to flourish in the dry, hot climate of Saudi Arabia and the larger GCC, in contrast to many hydroponic systems imported from the West, where conditions like low sunlight and moderate temperatures are very different.
Compared to the hydroponic systems currently in use in the area, Arable’s novel approach enables facilities to be set up four times faster, four times less expensive, and run at a 2.5x lower cost.
Furthermore, 80% of the system’s parts can be produced or sourced domestically in the Kingdom, greatly lowering reliance on outside machinery and knowledge.
By offering a scalable and sustainable method of producing fruits and vegetables, Arable hopes to support Saudi Arabia’s agricultural revolution. This program is in line with Vision 2030’s objectives of increasing domestic food production and decreasing food imports. In the future, the company sees Saudi Arabia becoming a regional exporter of fresh, high-quality vegetables in addition to becoming self-sufficient in vegetable production.
“The Saudi Ministry of Investment supports foreign investment and local innovation by streamlining the investor journey and ensuring a seamless experience. At MISA, we facilitate various initiatives and strategies aligned with Vision 2030, supporting the growth of businesses across all sectors, including those such as Arable, which address critical needs such as food security,” remarked Mohammad Abahussain, Deputy Minister at the Ministry of Investment.
“Saudi Arabia offers an unparalleled ecosystem for startups like Arable to thrive. Thanks to the support of organizations such as the Ministry of Environment, Water, and Agriculture (MEWA), the Ministry of Investment (MISA), the National Technology Development Program (NTDP), and the General Authority of SMEs (Monshaat), we’ve been able to scale rapidly and bring innovation directly into the Kingdom,” explained Lawrence Ong, CEO of Arable.
In order to push the limits of what is feasible in the area’s agricultural sector, Arable has received support from the government and strategic partnerships.
“Arable’s impressive achievement in raising significant funding, with a majority from international investors, highlights the innovative potential of Saudi Arabia’s agricultural sector. Their hydroponic system, designed specifically for local conditions at a substantially reduced cost and with most components sourced locally, sets a new standard for efficiency and sustainability. We are proud to have them as part of the Sunbulah platform, as this startup not only enhances our agricultural self-sufficiency but also attracts global interest, aligning perfectly with our vision for a diversified economy,” said Dr. Ali Alsabhan, General Manager of Entrepreneurship at MEWA.
