Shuaa Capital Raises USD 50 Million Growth Funding via Sukuk for Pure Harvest Smart Farms

United Arab Emirates (UAE)-based Pure Harvest Smart Farms (Pure Harvest), a sustainable technology-enabled agribusiness, has raised USD 50 million via a three-year Sukuk with embedded warrants. Dubai-based Shuaa Capital co-invested in Pure Harvest via its managed funds as a part of this funding round. Pure Harvest has also raised USD 10 million in growth equity, bringing the total raised to USD 60 million.

Why it matters?

This issuance marks the first time in the region that an early-stage business has been able to secure venture debt funding from capital markets. This issuance also indicates robust investor demand for ‘green Sukuk’. Pure Harvest was founded in Abu Dhabi (UAE) to cater to the local need for sustainable food sources. Acc...