KRISPR raises $600K in Pre-Seed funding for urban indoor vertical farming pilot
KRISPR, a UAE-based urban indoor vertical farming company has successfully raised $600K in Pre-Seed funding, led by KAIZEN FZCO, a family office based in Dubai.
• The funds will be deployed towards setting up the company’s urban indoor vertical farming pilot in Dubai Investment Park.
• Given over 80% of fresh produce in the UAE is imported, KRISPR’s localized urban indoor vertical farms will go a long way towards providing clean and nutritious food while working towards achieving food self-sufficiency not just in the region but across the world.
• The pilot will commercially test baby greens, herbs, tomatoes, and strawberries in an aeroponic indoor controlled environment, growing high quality, beyond organic, fresh fruits and vegetables sustainably, without the use of pesticides and herbicides, initially for sale to the Dubai market.
KRISPR Founder and CEO, Khadija Hasan said, “The post-COVID-19 environment has clearly demonstrated the need for localized supply chains, especially for essential goods and services, and KRISPR is committed to tackling the GCC region’s food security challenges head-on.”
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Read the full press release below.
KRISPR, an urban indoor vertical farming startup, has raised $600,000 in pre-seed funding. The funding round was led by KAIZEN FZCO, a family office based in Dubai, UAE. Proceeds will be deployed towards setting up the company’s urban indoor vertical farming pilot in Dubai Investment Park.
KRISPR’s aeroponic vertical farming approach addresses a significant gap in the region’s local fresh food supply chain, where harsh climate conditions, water scarcity, and non-arable land have rendered conventional agriculture challenging. Given over 80% of fresh produce in the UAE is imported, KRISPR’s localized urban indoor vertical farms will go a long way towards providing clean and nutritious food while working towards achieving food self-sufficiency not just in the region but across the world.
The pilot will commercially test baby greens, herbs, tomatoes, and strawberries in an aeroponic indoor controlled environment, growing high quality, beyond organic, fresh fruits and vegetables sustainably, without the use of pesticides and herbicides, initially for sale to the Dubai market.
“The post-COVID-19 environment has clearly demonstrated the need for localized supply chains, especially for essential goods and services, and KRISPR is committed to tackling the GCC region’s food security challenges head-on. While we address a critical consumer need for clean and nutritious food, we are also excited to partner with hotels, restaurants, and supermarkets across the GCC region to deliver high-quality, fresh, and beyond organic produce locally”, said Khadija Hasan, KRISPR Founder and Chief Executive Officer.
“It may sound a bit grandiose to talk of providing fresh, clean and chemical-free food everywhere in the world, but then clean and nutritious food is a real challenge and we all must have the courage to recognize it for what it is and also have the courage to dream the big dream and then make it happen. I strongly believe that KRISPR and others like it are going to meet this challenge and we on our part have an obligation to support this effort”, said Ameer Hamza Hassan, KAIZEN Chairman.
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An encouraging 33 startup deals took place in May 2020, which was an increase of 93% compared to April. This was largely driven by the Misk500 MENA Accelerator, which graduated its third batch of startups. Discover more details in our May 2020 Dashboard Report.