Cellebrite and Chainalysis Partner to Modernize Digital Investigations by Unlocking Cryptocurrency Data

 

   

Two market leaders come together to expand digital investigations      

PETAH TIKVA, Israel and TYSONS CORNER, Va. and NEW YORK, July 6 (GLOBE NEWSWIRE) -- Cellebrite DI Ltd. (NASDAQ: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, and Chainalysis, the blockchain data platform, have launched a partnership to enable customers to easily identify and assess criminal activity involving cryptocurrency during digital investigations to expedite their resolution.

Cryptocurrency usage has increased significantly over the past several years. While the vast majority of its use is for legitimate purposes, it has also been exploited for illicit use in scamming, money laundering, ransomware, and more. As cryptocurrency artifacts are more frequently found in, and can be used as key pieces of, digital evidence, law enforcement and corporations need access to cryptocurrency-related knowledge and tools to investigate criminal activity and help solve cases.

Together, Cellebrite and Chainalysis are enabling customers to modernize investigations by leveraging the transparency of blockchains. The integrated solution will provide automated, efficient capabilities and knowledge to identify and assess cryptocurrency risks and correlate such information to additional elements of a related case. Cellebrite’s DI suite of solutions will reveal accurate, real-time cryptocurrency data and insights from Chainalysis’ data platform. As a result of this cooperation, examiners, investigators, analysts, and compliance officers will be able to seamlessly identify illicit cryptocurrency-related activity in a single place as part of their familiar digital investigation workflows.

Cellebrite and Chainalysis are also collaborating to empower customers to bridge the cryptocurrency knowledge gap. Together, they will educate customers' internal experts by offering cryptocurrency training and delivering cryptocurrency expert investigation services, as well as making Chainalysis’ Reactor, the investigation tool, available for advanced cryptocurrency tracing.

“Cryptocurrency, as any other financial instrument, has become a vehicle for funding crime and laundering money, and as its adoption increases, our customers must be equipped with cutting-edge solutions to identify this important category of digital evidence,” said Leeor Ben-Peretz, Chief Strategy Officer at Cellebrite. “Providing our customers with an integrated cryptocurrency investigation solution will expedite their investigations through automation and help them seamlessly uncover a wider range of digital evidence within Cellebrite’s suite of Digital Intelligence solutions. We are happy to join forces with Chainalysis to further enhance our customers’ tools and knowledge, modernize investigations, and accelerate justice.”

“We are thrilled to partner with Cellebrite, the Digital Intelligence market leader, to expand our public and private sector customer reach and provide them access to Chainalysis’ solutions, training, and expertise,” said Thomas Stanley, President and Chief Revenue Officer at Chainalysis. “Together, Cellebrite and Chainalysis are committed to helping combat blockchain-related crime, improving trust and transparency in blockchains, and making cryptocurrency safer for all.”

The initial integrated solution is expected to be available in Q3 2022. To find out more about the partnership offerings, please visit: https://cellebrite.com/en/cellebrite-crypto-solution-powered-by-chainalysis/

About Cellebrite

Cellebrite’s (NASDAQ: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite’s Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

About Chainalysis

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world's most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

Caution Regarding Forward Looking Statements 
This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “will,” “appear,” “approximate,” “foresee,” “might,” “possible,” “potential,” “believe,” “could,” “predict,” “should,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include estimated financial information. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects, and other aspects of Cellebrite’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite’s ability to keep pace with technological advances and evolving industry standards; Cellebrite’s material dependence on the acceptance of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite’s DI solutions; Cellebrite’s failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; uncertainties regarding the impact of macroeconomic and/or global conditions, including COVID-19 and military actions involving Russia and Ukraine; intense competition in all of Cellebrite’s markets; the inadvertent or deliberate misuse of Cellebrite’s solutions; political and reputational factors related to Cellebrite’s business or operations; risks relating to estimates of market opportunity and forecasts of market growth; Cellebrite’s ability to properly manage its growth; risks associated with Cellebrite’s credit facilities and liquidity; Cellebrite’s reliance on third-party suppliers for certain components, products, or services; challenges associated with large transactions and long sales cycle; risks that Cellebrite’s customers may fail to honor contractual or payment obligations; risks associated with a significant amount of Cellebrite’s business coming from government customers around the world; risks related to Cellebrite’s intellectual property; security vulnerabilities or defects, including cyber-attacks, information technology system breaches, failures or disruptions; the mishandling or perceived mishandling of sensitive or confidential information; the complex and changing regulatory environments relating to Cellebrite’s operations and solutions; the regulatory constraints to which we are subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite’s shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite’s significant international operations; risks associated with Cellebrite’s failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite’s existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite’s current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled “Risk Factors” in Cellebrite’s annual report on form 20-F filed with the SEC on March 29, 2022 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission (“SEC”), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. 

Cellebrite Media   
Victor Cooper
Public Relations and Corporate Communications Director
+1 404.804.5910
Victor.cooper@cellebrite.com

Cellebrite Investors
Anat Earon-Heilborn
VP Investor Relations
+972 73 394 8440
investors@cellebrite.com

Chainalysis Media
Maddie Kennedy
Senior Director of Communications
media@chainalysis.com
Contact Chainaylsis

Source : Cellebrite DI Ltd

SINOVAC partnership starts clinical trial of Omicron-specific inactivated vaccine for booster use

 

[From right to left] Professor Ivan Hung Fan-ngai, Ru Chien & Helen Lieh Professor in Health Sciences Pedagogy, Clinical Professor and Chief of Infectious Diseases, Department of Medicine, School of Clinical Medicine, Assistant Dean (Admissions), LKS Faculty of Medicine of The University of Hong Kong; Dr Kenneth Tsang, CEO of Gleneagles Hospital Hong Kong; Ms. Cheryl Law, International Business Development Director, Asia Pacific of SINOVAC; Mr. Henry Yau, Managing Director of The University of Hong Kong Clinical Trials Centre. (Photo: Business Wire)

KUALA LUMPUR, July 5 (Bernama) -- A kick off ceremony was held at Gleneagles Hospital Hong Kong (Gleneagles or GHK) for initiating a clinical trial to assess the safety and immunogenicity of the SINOVAC’s Omicron-specific COVID-19 inactivated vaccine used as a booster shot in healthy adults, in anticipation of providing scientific evidence for future immunisation strategy.

This study is led by a medical research team of the University of Hong Kong Clinical Trials Centre (HKU-CTC) in collaboration with Gleneagles, according to a statement.

“Currently, Omicron continuously sweeps the world. I hope the clinical trial could strengthen and effectively promote vaccine research and vaccination administration,” said Professor Ivan Hung Fan-ngai, Ru Chien & Helen Lieh Professor in Health Sciences Pedagogy, Clinical Professor and Chief of Infectious Diseases, and Assistant Dean of Department of Medicine, School of Clinical Medicine, Assistant Dean (Admissions), LKS Faculty of Medicine, The University of Hong Kong (HKUMed).

Meanwhile, Cheryl Law, International Business Development Director of SINOVAC said: “It is of great significance to cooperate with Professor Hung, HKU-CTC and Gleneagles to carry out the clinical trial of the COVID-19 inactivated vaccine as a booster shot against the Omicron strain.

“We hope to find a solution for Hong Kong and the globe to fight against the new viruses with the results of this trial.”

SINOVAC obtained the sample of the Omicron variant in early December 2021 and then actively promoted research and development of its inactivated COVID-19 vaccine (Omicron specific strain). Preclinical research demonstrated that the vaccine is safe and effective in animals.

The Omicron strain booster immunisation clinical trial was then approved by the HKU GHK Institutional Review Board (IRB) on April 12, and by the Pharmacy and Poisons Board of Hong Kong on April 14, allowing the carrying out of the clinical study on boosting the immunity of people against the new coronavirus strain in Hong Kong.

In this study, a total of 300 healthy adult volunteers aged 18 and above who have been vaccinated with two or three doses of inactivated or mRNA COVID-19 vaccine will be recruited.

SINOVAC Biotech Ltd (SINOVAC) is a China-based leading biopharmaceutical company that focuses on the research, innovation, manufacture, and commercialisation of vaccines that protect against human infectious diseases.

More details at www.sinovac.com.

-- BERNAMA

Norway maiden European nation sharing vessel tracking information on Global Fishing Watch map

 KUALA LUMPUR, July 1 (Bernama) -- Norway has become the first country in Europe to partner with Global Fishing Watch, and will share its vessel tracking data for the Norwegian fishing fleet on the organisation’s public map.

According to a statement, the announcement was made at the second United Nations Ocean Conference in Lisbon, Portugal where countries are gathering to mobilise action and innovative solutions to some of the ocean’s most pressing threats.

Under the memorandum of understanding, which was signed between Global Fishing Watch and Norway’s Directorate of Fisheries, Norway has agreed to share the vessel monitoring system data for vessels 15 metres or more in length on the Global Fishing Watch map.

“We’re seeing more and more countries embrace fisheries transparency, demonstrating their understanding of just how essential public data is to the effective management of fishing activity,” said Tony Long, chief executive officer of Global Fishing Watch.

“Norway has taken a leading global role in the sustainable ocean economy and is using its experience and expertise to promote better ocean governance. By bringing its fishing fleet into our map, Norway is paving the way for other countries, including developed nations, to follow suit.”

Meanwhile, director general of the Directorate of Fisheries in Norway, Frank Bakke-Jensen said: “Wild living marine resources are a common good and belong to everyone.

“When a commercial fishing fleet is licensed to utilise this common good, we are obliged and committed to share fisheries data documenting the environmental footprint of commercial fishing activity. We hope that others will follow this approach and share more fisheries data.”

The incorporated data will span a total of approximately 600 vessels—all vessels 15 metres in length or more predominantly operating in Norwegian waters and the northeast Atlantic Ocean.

The partnership with Global Fishing Watch will help make its vessel tracking data more accessible to a wider range of stakeholders—a substantial benefit in thesphere of international fi sheries management.

Global Fishing Watch is an international nonprofit organisation dedicated to advancing ocean governance through increased transparency of human activity at sea.

-- BERNAMA

NielsenIQ-GfK combination to create capabilities in consumer and retail measurement industry

KUALA LUMPUR, July 4 (Bernama) -- NielsenIQ and GfK SE (GfK), two leaders in global information services, have announced a definitive agreement through which the companies plan to combine, creating new capabilities in the consumer and retail measurement industry.

Powered by state-of-the-art cloud technology, the combination will bring together complementary data and analytics assets to provide a comprehensive view of shopper spending through a total store read, enabling clients to anticipate trends and react faster to consumer needs and expectations.

“Combining our market-leading capabilities will allow us to further accelerate innovation that best serves our expanded client base and deliver significant value for all our stakeholders,” said Jim Peck, Executive Chairman and Chief Executive Officer of NielsenIQ in a statement.

“Together with GfK, we have the opportunity to influence the future of global retail and consumer measurement – one that is fast, nimble and connected.”

Meanwhile, Lars Nordmark, Interim Chief Executive Officer and Chief Financial Officer of GfK said: “The combination with NielsenIQ will enable us to empower our customers to make smarter decisions across their organisations at a truly global scale and accelerate our journey into the next chapter of innovation.”

GfK’s leading position in technology and durables across 67 countries, combined with NielsenIQ’s leading position in the measurement of fast-moving consumer goods in 90 countries will allow for expansion within the companies’ traditional client industries as well as new market segments.

With a larger technology and operations talent base worldwide, the combined company will innovate and bring new products to market even faster and then scale them to a broader set of markets and industries.

With this transaction, Advent will become the majority shareholder of the combined company. Advent acquired NielsenIQ in a transaction that closed in 2021.

The transaction is expected to close later this year or early next year, subject to the satisfaction of customary closing conditions. Until closing, NielsenIQ and GfK will remain independent companies focused on their current strategies and growth plans.

-- BERNAMA

BUSINESS SCHOOL GRADUATES ENTER WHITE-HOT JOB MARKET AS EMPLOYERS SIGNAL GROWTH, CONFIDENCE IN THEIR CREDENTIALS

MBA and business master’s degrees remain hot commodity despite recession fears and COVID challenges

RESTON, Va., June 30 (Bernama-GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today released its annual hiring report, the GMAC Corporate Recruiters Survey – 2022 Summary Report. The report explores the state of employer demand for graduate business school talent (MBA and business master’s degree recipients) in the context of the COVID-19 pandemic and includes responses from nearly 1,000 corporate recruiters and staffing firms around the world. While rising inflation and the war in Ukraine were just at the onset during the time when the survey was conducted in February and March 2022, hiring projections of graduate management education (GME) graduates remain bullish this year, with 92 percent of corporate recruiters expecting to hire newly minted MBAs. Promisingly, 2 in 3 responding corporate recruiters describe the current direction of their organization as expanding or growing (67%) and a similar proportion plan to increase their overall headcount (65%). Also, most recruiters (63%) project that demand for new business school talent will increase in the next five years, with business master’s hiring intention the highest among recruiters for East and Southeast Asia and Middle East companies.

“The latest GMAC findings of the Corporate Recruiters Survey show that nearly 9 out of 10 corporate recruiters feel confident or highly confident in the ability of business schools to prepare students to be successful in their organizations,” said Sangeet Chowfla, president and CEO of GMAC. “That’s an extraordinary figure. It shows that despite the pandemic and the limitations it brought on student mobility, public and mental health, and remote learning, business schools managed to find ways to build an impressive cohort whom corporate recruiters and staffing agencies worldwide continue to bank on as prime sources for talent.”  

http://mrem.bernama.com/viewsm.php?idm=43555

Cellebrite Launch of Physical Analyzer Ultra Series Transforms Industry Standard for Digital Data Examination

With recent launches of Physical Analyzer Ultra Series and SaaS-based Cellebrite Premium, Cellebrite delivers powerful, end-to-end Collect & Review offering for digital investigations


PETAH TIKVA, Israel and TYSONS CORNER, Va., July 1 (GLOBE NEWSWIRE) -- Cellebrite DI Ltd. (Nasdaq: CLBT), a global leader in Digital Intelligence (DI) solutions for the public and private sectors, today announced the general availability of the Cellebrite Physical Analyzer Ultra Series (PA Ultra Series), the next generation of PA and the de-facto industry standard for digital data examination.
PA Ultra Series is a revolutionary solution that further empowers investigators to uncover key pieces of case-relevant digital evidence and examine digital data more efficiently, to help secure more convictions, accelerate justice, and close cases faster. PA Ultra Series will significantly boost Cellebrite’s Collection & Review offerings as part of the Digital Intelligence suite of solutions.

PA Ultra Series will enable investigation teams to leverage an upgraded solution that can process a higher volume of computer, cloud, and mobile data, allow cases to be opened without the need to reparse data and support multiple cases and evidence per device with enhanced location data from a new customizable dashboard. PA Ultra will also enable data enrichment for cryptocurrency, ranging from leading blockchain data platforms to tracking transactions.

Ronnen Armon, Chief Products & Technologies Officer, said: “PA Ultra Series transforms PA’s data processing, decoding, and reporting capabilities. We are confident that our continued innovation will empower examiners and law enforcement agencies to make more efficient and insightful investigative decisions that will lead to uncovering the truth and securing more convictions.”

Additionally, after successful beta testing and showcasing the pre-release, the SaaS version of Cellebrite Premium, an industry-leading advanced access solution, is now available for customers. With the general release of PA Ultra Series and the general availability of a SaaS-based version of Cellebrite Premium, Cellebrite has built upon its position as the global leader in the Digital Intelligence market. The Company provides a complete Collection & Review technology stack to its public and private sector customers, dramatically boosting our customer’s ability to analyze data in investigations and manage this process in the cloud.

For more information on Cellebrite PA Ultra Series, please visit https://cellebrite.com/en/pa-ultra.

For more information on Cellebrite Premium-as-a-Service, please visit: https://cellebrite.com/en/premium-as-a-service/.

About Cellebrite

Cellebrite’s (Nasdaq: CLBT) mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world. We are a global leader in Digital Intelligence solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite’s Digital Intelligence platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on Twitter at @Cellebrite.

Caution Regarding Forward Looking Statements

This document includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “will,” “appear,” “approximate,” “foresee,” “might,” “possible,” “potential,” “believe,” “could,” “predict,” “should,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include estimated financial information. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects, and other aspects of Cellebrite’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite’s ability to keep pace with technological advances and evolving industry standards; Cellebrite’s material dependence on the acceptance of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite’s DI solutions; Cellebrite’s failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; uncertainties regarding the impact of macroeconomic and/or global conditions, including COVID-19 and military actions involving Russia and Ukraine; intense competition in all of Cellebrite’s markets; the inadvertent or deliberate misuse of Cellebrite’s solutions; political and reputational factors related to Cellebrite’s business or operations; risks relating to estimates of market opportunity and forecasts of market growth; Cellebrite’s ability to properly manage its growth; risks associated with Cellebrite’s credit facilities and liquidity; Cellebrite’s reliance on third-party suppliers for certain components, products, or services; challenges associated with large transactions and long sales cycle; risks that Cellebrite’s customers may fail to honor contractual or payment obligations; risks associated with a significant amount of Cellebrite’s business coming from government customers around the world; risks related to Cellebrite’s intellectual property; security vulnerabilities or defects, including cyber-attacks, information technology system breaches, failures or disruptions; the mishandling or perceived mishandling of sensitive or confidential information; the complex and changing regulatory environments relating to Cellebrite’s operations and solutions; the regulatory constraints to which we are subject; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite’s shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite’s significant international operations; risks associated with Cellebrite’s failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite’s existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite’s current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled “Risk Factors” in Cellebrite’s annual report on form 20-F filed with the SEC on March 29, 2022 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission (“SEC”), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Cellebrite Contacts

Media
Victor Cooper
Public Relations and Corporate Communications Director
Victor.cooper@cellebrite.com
+1 404.804.5910

Investors
Anat Earon-Heilborn
VP Investor Relations
+972 73 394 8440
investors@cellebrite.com

SOURCE : Cellebrite DI Ltd

PURE HARVEST SMART FARMS SECURES USD $180.5 MILLION FROM GLOBAL INVESTORS TO FUND EXPANSION

 

• 
  Funding takes total capital raised to-date to $387.1 million, fortifying the company’s position among the best-funded startups in the MEASA region.

• Ambitious growth plan includes high-tech hybrid smart farms across the GCC and Asia.

• A diverse, global investor base supports Pure Harvest’s mission to democratize access to high-quality, sustainably-grown, fresh fruits and vegetables.

ABU DHABI, United Arab Emirates, July 1 (Bernama-BUSINESS WIRE) -- Pure Harvest Smart Farms (Pure Harvest), a world-leading, sustainable technology-enabled agribusiness headquartered in the United Arab Emirates, raised USD $180.5 million in their latest growth funding round. The financing was embraced by a consortium of key global investors, including Metric Capital Partners, UK, IMM Investment Corp, Korea, and Olayan Group, KSA, joined by several existing investors and management. The company will utilize the capital, together with various forms of debt financing, to invest in research and development, to expand its footprint across the GCC, and to open new markets in Asia.

This represents the largest-ever convertible financing in the MEASA region. The funding round was vastly oversubscribed, and a few strategic investors are still in discussions for further upsizing, underscoring the strong institutional investor appetite for Pure Harvest. The growth capital cements Pure Harvest’s role as the MEASA region’s champion within the fast-emerging, global high-tech agriculture ecosystem.

Sky Kurtz, Co-Founder and CEO at Pure Harvest Smart Farms, said: “We are humbled by this investment from an esteemed group of global investors, backing our mission: to harness the wonders of science, the power of nature, and the passions of people to provide tasty, affordable, sustainably-grown fresh produce anywhere. At Pure Harvest we have demonstrated we can reliably deploy our high-tech farming solutions across the GCC. Now it is time to enter new markets that share similar challenges to our own – fast-growing populations, seasonal import-dependence, and an awareness of the crippling effects that short-term crises (e.g. COVID-19, Russia-Ukraine conflict), and climate change, are having on our global food system. The future of farming is here… now, we have the resources to bring our solution to the world.”

Metric Capital Partners, the London headquartered, pan-European private equity investor providing capital solutions to mid-sized companies across a wide variety of industries, was a co-lead investor. Bjørn Tessiore, Partner at Metric Capital Partners said: “We are delighted to support the continued growth of Pure Harvest. It’s clear that controlled-environment agriculture is becoming increasingly important as a solution to food security issues while also mitigating the environmental impact of food production. We believe Pure Harvest is extremely well positioned to thrive in this growing market driven by its excellent team, innovative approach, and proven track record of building and operating at scale in a region characterized by difficult climatic conditions for agriculture.”

Commenting for IMM Investment Corp, the leading alternative investment firm in Korea, who announced an initial USD $50 million investment in Pure Harvest in October, Hyun-Chan Cho, Partner at IMM commented: “Due to our longstanding successful investment in Farm8 (PlanTFarm), we knew the CEA space well. With Pure Harvest, we saw a complementary solution that let us double-down on an investment thesis that we continue to believe in, and that tangibly contributes to global food security, water conservation, economic diversification, and sustainability objectives. We are proud to actively support Pure Harvest as it brings its solution to Asian markets.”

The Olayan Financing Company, a Saudi company holding and managing the Olayan Group’s Middle Eastern assets, was another key investor in this round of fundraising. A spokesperson for the company, discussed their recent investment: “Pure Harvest’s character aligns closely to our own: they saw an impending global food security crisis and have taken an important step to solve it. The climate and water challenges Pure Harvest works to overcome is vital to the global economy. Pure Harvest has proven its ability to deliver incredibly high-quality, safe, sustainable products at affordable prices, and they’ve shown an openness to partner with others to achieve their mission. I believe this funding will allow them to unleash significant potential, and to meet growing food demands in many new markets. We are pleased to be joining the company at this critical point in their journey, transitioning from a regional leader to a global one.”

This latest round of fundraising cements Pure Harvest’s leadership position as the pioneer in CEA in harsh climates. This fundraise, together with the sizable research and development incentives secured from the Abu Dhabi Investment Office in 2020, will allow Pure Harvest to accelerate its growth plans, deploying growing systems in new markets and increasing research and development investments. The company is also investigating a number of new growth initiatives, including product extensions and water-efficient CEA solutions for fodder production.

Citigroup served as exclusive financial advisor to Pure Harvest.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20220630005406/en/

Contact

Media Enquiries
David Caldwell
pureharvest@cw8-communications.com

Source : Pure Harvest