Riyadh - Sharikat Mubasher: Iyris, the innovative agriclimate tech company formerly known as RedSea, secured $16 million in a Series A round led by the San Francisco-based Ecosystem Integrity Fund (EIF), with participation from existing and new investors including Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital.
The proceeds will be used to support increased sales coverage and delivery of Iyris’ strong international sales pipeline for SecondSky greenhouse covers and nets, according to the company’s press release.
The company will also allocate the investment to develop its innovative heat-blocking products and resilient plant genetics.
The round reflects Iyris’ commitment to empowering farmers to sustainably mitigate the impact of climate change and address food security concerns.
John Keppler, Executive Chairperson of Iyris, said: “We have a lot left to do and completion of our Series A fundraise enables us to take the next steps in expanding sales of our drop-in solutions for heat blocking and crop resilience to our grower customers around the world.”
Meanwhile, Sasha Brown, Partner at EIF, commented: “We have invested in Iyris because we believe there are few companies that have such tremendous potential to become a critical partner for a mass market of growers, as they seek to adapt their operations to withstand and mitigate changing climate.”
Iyris provides a full suite of solutions to deliver tangible benefits to the planet and growers via extended growing seasons, increased yields, and resource savings, while bolstering local, regional, and global food supply chains.
