Saudi Agritech Startup Iyris Secures $16 Million in Series A Funding
The funding will go towards strengthening the startup’s international sales pipeline for its greenhouse covers and nets.
Saudi-based agritech startup Iyris has raised $16 million in a Series A funding round led by Ecosystem Integrity Fund (EIF), as the company continues its mission to help increase crop yields for farmers globally with its greenhouse covers and nets, as well as innovative heat-blocking products and plant genetics modifications.
Founded in 2018 by Ryan Lefers, Derya Bara, and Mark Tester, Iyris (formerly ResSea) seeks to address global food security challenges and reduce the environmental impact of farming. This latest round of funding is set to support the startup’s international sales pipeline for its myriad products, chief amongst them the SecondSky greenhouse covers and nets, which help to extend growing seasons for farmers in areas with challenging environmental conditions.
“There are few problems more challenging than feeding the world sustainably,” John Keppler, Executive Chairperson of Iyris, tells StartupScene. “Iyris is assembling the necessary toolkit to help farmers improve crop yields with fewer resources, making it easier for farmers to grow fresh produce in increasingly difficult climates.”
The tech deployed by Iyris was originally developed by scientists at the King Abdullah University of Science and Technology in Saudi Arabia, aiming to revolutionise the domestic agriculture industry in a region where climate change and excessive heat limit sustainable, productive growth.
Agricultural companies in the region have become increasingly concerned with how to battle inclement environmental conditions. In Dubai, ReFarms is establishing the world’s largest ‘vertical farm’, an indoor fresh food factory that uses LEDs and recycled waste products to reduce running costs and improve efficiency and overall yields in UAE’s harsh climate.
