Arable Raises $2.55M to Revolutionize Saudi Arabian Agriculture
- Significant Investment for Sustainability: Arable secured $2.55 million (9.75 million SAR) in a Seed funding round, with 90% sourced from foreign investors, aiming to advance hydroponic farming in Saudi Arabia.
- Locally Engineered Hydroponic Systems: Arable’s technology is specifically designed for the Kingdom’s high-temperature, arid climate, offering cost-effective and sustainable solutions.
- Alignment with Vision 2030: The startup supports Saudi Arabia’s goals for self-sufficiency in food production and reducing imports, contributing to the Kingdom’s agricultural transformation.
Arable, a Saudi-based AgriTech startup, co-founded by Lawrence Ong (CEO) and Christina Khalife (COO), with the collaboration of Executive Partners Marc and Anthony Eid, has announced the successful closure of a $2.55 million (9.75 million SAR) Seed funding round. This investment aims to pioneer sustainable hydroponic farming in the Kingdom. The round included participation from institutional and private investors, with 90% of the funding sourced from foreign investors and being deployed within Saudi Arabia to advance the Kingdom’s agricultural sector.
A Homegrown Solution for Saudi Arabia’s Agriculture Needs
Arable is redefining agriculture in the Kingdom by designing, manufacturing, and operating hydroponic vegetable farming systems tailored specifically for Saudi Arabia’s unique climate. Unlike many hydroponic technologies imported from the West—where conditions such as low sunlight and moderate temperatures differ significantly—Arable’s systems are engineered to thrive in the arid, high-temperature environment of Saudi Arabia and the wider GCC region.
Key advantages of Arable’s innovative hydroponic systems:
- Facilities can be set up 4x faster and 4x cheaper.
- Operates at 2.5x lower cost compared to existing solutions.
- 80% of components can be sourced or manufactured locally, reducing dependency on foreign equipment and expertise.
Saudi Arabia as a Global Agricultural Hub
Arable’s mission is to contribute to Saudi Arabia’s agricultural transformation by providing a sustainable and scalable solution for growing fruits and vegetables. This initiative aligns with Vision 2030’s goals of reducing food imports and boosting local food production. The company envisions a future where Saudi Arabia achieves:
- Self-sufficiency in vegetable production.
- Status as a regional exporter of high-quality fresh produce.
“The Saudi Ministry of Investment supports foreign investment and local innovation by streamlining the investor journey, ensuring a seamless experience. At MISA, we facilitate various initiatives and strategies aligned with Vision 2030, supporting the growth of businesses across all sectors, including those such as Arable which address critical needs such as food security,” remarked Mohammad Abahussain, Deputy Minister at The Ministry of Investment.
Lawrence Ong, CEO of Arable, added:
“Saudi Arabia offers an unparalleled ecosystem for startups like Arable to thrive. Thanks to the support of organizations such as the Ministry of Environment, Water, and Agriculture (MEWA), the Ministry of Investment (MISA), the National Technology Development Program (NTDP), and the General Authority of SMEs (Monshaat), we’ve been able to scale rapidly and bring innovation directly into the Kingdom.”
A Collaborative Vision for Saudi Agriculture
Arable’s achievements have been bolstered by strategic partnerships and government support, helping the company push the boundaries of what’s possible in the region’s agricultural sector.
“Arable’s impressive achievement in raising significant funding, with a majority from international investors, highlights the innovative potential of Saudi Arabia’s agricultural sector. Their hydroponic system, designed specifically for local conditions at a substantially reduced cost and with most components sourced locally, sets a new standard for efficiency and sustainability. We are proud to have them as part of the Sunbulah platform, as this startup not only enhances our agricultural self-sufficiency but also attracts global interest, aligning perfectly with our vision for a diversified economy,” said Dr. Ali Alsabhan, General Manager of Entrepreneurship at MEWA.