Iyris, an agritech startup operating in Riyadh, Abu Dhabi, and Delaware, has raised $16 million in Series A funding to tackle the challenges of farming in difficult climates. The funding round, led by Ecosystem Integrity Fund (EIF), aims to help Iyris scale its operations and improve agricultural productivity amidst rising temperatures and drought conditions. Founded in 2018, Iyris uses innovative technologies like SecondSky, which incorporates an additive in polyethylene to block heat while allowing necessary light for photosynthesis, significantly reducing cooling costs and water usage for farmers. This technology has proven effective in harsh climates and is now being adopted globally.

Highlights:

• Funding Achievement: Raised $16 million in Series A funding led by EIF, with participation from Global Ventures, DFDF, Kanoo Ventures, Globivest, and Bonaventure Capital.
• Innovative Technology: SecondSky tech reduces heat, water, and electricity consumption, enhancing crop yields and extending growing seasons.
• Global Expansion: Iyris plans to expand its reach from the Middle East to regions like the U.S., Portugal, Spain, and Mexico.
• Proven Impact: Demonstrated significant increases in crop yields and reduced input costs for farmers, offering a payback within a year of adoption.

Key Features and Benefits:

• Heat-Blocking Technology: SecondSky's additive in polyethylene reduces temperatures while allowing necessary light, cutting cooling costs and water usage by up to 90%.
• Extended Growing Seasons: Enables farmers to plant earlier and grow for longer periods, resulting in higher yields.
• Sustainability: Reduces environmental impact by lowering energy and water consumption, crucial for food security in arid regions.

Future Prospects:

• Market Growth: Targets a $6 billion global market for greenhouse covers, with plans to expand into new regions including India and China.
• Strategic Partnerships: Collaborates with major growers and distribution partners to ensure widespread adoption and recurring revenue through product replacement cycles.

Conclusion:

Iyris is making a significant impact in the agricultural sector by providing scalable, sustainable solutions to farmers facing climate challenges. With its innovative technology and strategic funding, Iyris is well-positioned to drive the future of farming in harsh climates, ensuring food security and increased profitability for farmers worldwide. 🌱🚀

For more information, visit Iyris’ website.

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