Templeton Joins Funding for Agritech Firm Trying to Tame Desert
- Shuaa, Sancta Capital provide venture debt to Pure Harvest
- Deal comes as Gulf nations seek to secure food supply chain
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United Arab Emirates-based agricultural technology firm Pure Harvest Smart Farms raised $60 million as it looks to expand across the Gulf at a time when the pandemic has exposed risks to food security in the region.
The company’s latest funding consists of a $50 million structured Islamic bond led by Dubai-based finance firm Shuaa Capital PSC, alternative investment manager Sancta Capital Group and Franklin Templeton Investments (ME) Ltd.