Dubai-based Crysp Farms, an operator of decentralised vertical farms, has raised $2.25 million to fund its expansion in the Gulf region.

The Pre-Series A round was led by Gate Capital, with participation from regional investors, including those from the UAE and Saudi Arabia, the company said in a statement.

Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital

Crysp Farms builds and operates bespoke onsite hydroponic farms for businesses in the hospitality, healthcare, food and beverage, and hypermarkets sectors.

Each farm promises to provide continuous access to onsite fresh produce and cut down greenhouse gas emissions.

Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital

The new capital will be used to support the company’s expansion plans, which include introducing new farms in top hotels and resorts, such as Hilton Worldwide, Jumeirah Group and Marriott International, among others.

Crysp Farms is looking at expanding into Saudi Arabia, particularly in the hospitality and healthcare sectors across major cities and new development projects in the kingdom.

Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital
Crysp Farms, the GCC’s leading innovator and operator of decentralized vertical farms has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors including from the UAE and Saudi Arabia. Image courtesy: Gate Capital

The company has recently partnered with five new properties, bringing its sustainable farms to more than 20 locations across the UAE.

It said there are many more farms in the pipeline across regional and international destinations, including the Seychelles and Maldives.

“This financial and strategic investment opens up opportunities and enables the business to scale exponentially across our target markets,” said Maan Said, CEO and founder of Crysp Farms.

The global vertical farming market has been growing on the back of rising adoption of eco-friendly agricultural practices.

The market, valued at $6.92 billion last year, is expected to post a CAGR growth of 20% from 2023 to 2030, according to a report posted by Grand View Research.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com