UAE - Mubasher: The Abu Dhabi Investment Office (ADIO) will grant three agriculture technology (AgTech) companies with financial and non-financial incentives valued at AED 152 million ($41 million) to expand their operations in Abu Dhabi.
The ADIO will support FreshToHome, an integrated online brand in fresh fish and meat e-commerce, Pure Harvest, and Nanoracks as part of its plan to develop innovation projects across the agriculture value chain, according to a press release on Monday.
Meanwhile, the partnerships aim to strengthen Abu Dhabi's AgTech capabilities and promote innovation in this sector.
Through the incentives, the ADIO will enable FreshToHome to invest in next-generation aquaculture and agriculture solutions to support food production in arid and desert climates and face global food security challenges.
The Director General of ADIO, Tariq Bin Hendi, said: "The rapid growth of Abu Dhabi’s AgTech ecosystem is giving rise to new technologies supporting the advancement of the agriculture sector in the emirate, region and beyond."
The CEO and Co-Founder of FreshToHome, Shan Kadavil, commented: "We intend to bring our US patent pending AI-powered Virtual Commodities Exchange technology, our e-grocery platform, and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region."
