AeroFarms is the latest indoor agriculture companies to gain attention for its potential in the Middle East.
The U.S. based venture closed $34 million of a planned $40 million Series D round, backed by Meraas, the investment vehicle for Dubai’s leader Sheikh Mohammed bin Rashid, which will support its expansion in the Middle East.
AeroFarms runs nine indoor aeroponics farms, which produce leafy greens nourished by LED lighting and mist. It employs 120 scientists and engineers on its team.
Pegasus Agriculture Group owns indoor hydroponics farms in Abu Dhabi and regionally, while Indoor Farms of America recently expanded sales to the Middle East.
AeroFarms’ has raised $130 million since 2014, with backing from other overseas investors, including U.K.-based Wheatsheaf Investments and China-based GSR Ventures.