Saudi Arabia’s hydroponic farming sector is set for expansion as Arable, an agritech startup, secures $2.55 million in seed funding. The investment, largely from foreign backers, will support the Kingdom’s agricultural development.
Saudi Arabia faces challenges like limited water and harsh climates, which hydroponic farming can help address by boosting yields and conserving water. Arable’s growth is driven by strategic partnerships and government support.
CEO Lawrence Ong praised Saudi Arabia’s supportive ecosystem for startups, highlighting backing from key ministries and programs. Founded by Ong and Christina Khalife, Arable focuses on cost-effective hydroponic systems, enhancing local production.
The company aims to transform agriculture in Saudi Arabia by providing sustainable solutions aligned with Vision 2030, which seeks to reduce food imports and increase local production.
Deputy Minister Mohammad Abahussain noted that the Ministry of Investment facilitates foreign investment and local innovation, supporting businesses like Arable that tackle crucial needs such as food security.
Hydroponic farming can thrive even in harsh environments by improving nutrient absorption and plant maturity. Arable’s success in attracting international funding underscores the sector’s potential.
Ali Al-Sabhan of MEWA commended Arable’s efficient and sustainable system, which is locally adapted and cost-effective, enhancing agricultural self-sufficiency and attracting global interest.
A report from MEWA highlights significant growth in agricultural technology, with the global market for drones and biotechnology expected to surge, reflecting the impact of innovations in agriculture.