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UAE Agtech Right Farm Raises $2.8 Million from Investors

Right Farm said it raised $2.8 million from investors. (WAM)
Right Farm said it raised $2.8 million from investors. (WAM)
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UAE Agtech Right Farm Raises $2.8 Million from Investors

Right Farm said it raised $2.8 million from investors. (WAM)
Right Farm said it raised $2.8 million from investors. (WAM)

Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ's venture platform.

The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector.

Right Farm said in a statement that the funding round was led by DisruptAD, ADQ's venture platform, and Enhance Ventures, a venture builder for the Middle East, North Africa, Pakistan, and Turkey market.

The company said the proceeds will be used to support the firm's technology development and growth plans.

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GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024
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GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

Saudi Arabia’s General Authority for Statistics (GASTAT) released the international trade publication for November 2024, revealing a 19.7% increase in non-oil exports compared to November 2023.
The publication also highlighted an 82.9% rise in the value of re-exported goods during the same period, while merchandise exports decreased by 4.7% and imports grew by 13.9%, SPA reported.
It also showed that chemical products are among the most significant non-oil exports, accounting for 24.0% of the total, a 1.6% decrease compared to November 2023.
Plastics, rubber, and their products, which represented 21.7% of total non-oil exports, recorded a 4.0% increase compared to November 2023.
Machinery, electrical equipment and their parts accounted for 28.1% of total imports, showing a 22.4% increase compared to November 2023. Transportation equipment and their parts, representing 14.2% of total imports, also saw a 22.0% increase compared to November 2023.
The publication revealed that total exports reached SAR90.5 billion, total imports totaled SAR73.7 billion, and the trade balance stood at SAR16.8 billion.