Riyadh - Sharikat Mubasher: The Saudi agriculture technology (agritech) startup Arable successfully closed a SAR 9.75 million ($2.55 million) seed funding round to lead sustainable hydroponic farming in Saudi Arabia.

In a statement, the company unveiled that the round included participation from institutional and private investors, with 90% of the funding coming from foreign investors.

Arable aims to advance and redefine the Saudi agricultural sector by designing, manufacturing, and operating hydroponic vegetable farming systems tailored specifically for the Kingdom’s unique climate. Its innovative approach allows facilities to be set up 4x faster, 4x cheaper, and operate at 2.5x lower cost compared to existing hydroponic solutions in the region.

Lawrence Ong, CEO of Arable, hailed the Kingdom’s efforts to create 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,” Ong added.

For his part, Saudi Deputy Minister of Investment Mohammad Abahussain, highlighted the ministry’s efforts to support foreign investment and local innovation by streamlining the investor journey and 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,” Abahussain said.

Co-founded by Lawrence Ong and Christina Khalife, Arable aims to contribute to Saudi Arabia’s agricultural transformation by providing a sustainable and scalable solution for growing fruits and vegetables, in alignment with Vision 2030’s goals of reducing food imports and boosting local food production.