Helsinki-based iFarm, an agritech development company, announced on Tuesday that it has relocated its global HQ from the EU to the UAE as it continues its expansion spree in the MENA agtech market.
The announcement comes as the Gulf region’s agtech industry experiences rapid investment growth aided by significant government support programmes.
The company is also planning to use this base to extend its reach into the Asia-Pacific region as well.
“We’ve started in Indonesia but we already have requests from the Philippines and Singapore,” iFarm co-founder Maxim Chizhov says. “This is a goal, that we work from our headquarters in the MENA region and work with Asia Pacific also.”
Because of arid soil and low water resources, GCC countries rely on imports to feed their population’s growing demand for fresh, healthy food.
“I think this is the most important region in the world that requires indoor farming right now,” says iFarm co-founder Maxim Chizhov. “There are a lot of potential clients here. However, we continue to operate globally, and our valued clients in Europe, the Americas, and other regions will not be affected.”
iFarm: Indoor vertical farming
Founded by Max Chizhov, Alex Lyskovsky, and Konstantin Ulyanov, iFarm provides indoor vertical farming systems enabled with software and automation.
The Finnish firm says its facility can grow fresh greens, berries, and other crops year-round in any climate, while drastically reducing water consumption compared to greenhouses and open-air farms.
As of now, 19 facilities with iFarm technology are operating or being built worldwide, largely in Europe and the Middle East.
In Riyadh, a farm with 2500 sq m of grow area owned by Bather Farm has an estimated monthly production capacity of 16 tons, including microgreens, herbs, and leafy greens.
Another commercial-scale iFarm facility is under construction in Dubai, in partnership with agtech company SpaceFarm (UAE).
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