KAUST spinout iyris, an AgriClimate Tech company, raised $16 million in Series A funding led by Ecosystem Integrity Fund. The funding will help iyris scale the sales and delivery of its SecondSky greenhouse covers and nets internationally. iyris' SecondSky technology was developed at KAUST and increases crop yields while reducing input costs. Why it matters: This funding highlights the potential of KAUST-backed startups to address critical challenges in agriculture and sustainability, particularly in harsh environments.
Three KAUST startups, iyris, Oaesis, and UnitX, were selected in the top 10 at the Startup Istanbul international competition out of 90,000 applicants. iyris secured third place with its technology, while Oaesis developed a laser-based energy-efficient lighting system for indoor farms. KAUST supports emerging companies from ideation to marketing and financial support. Why it matters: This showcases KAUST's role in fostering innovation and contributing to Saudi Arabia's knowledge-based economy by supporting promising startups on the global stage.
KAUST Professor Derya Baran and her team at startup iyris have developed transparent solar panels that can turn windows into a source of renewable energy. The technology allows buildings to generate their own electricity, aligning with Saudi Vision 2030's goals for sustainable energy. iyris' first customer is the Red Sea Farm, another KAUST-based business, which aims to use the windows to improve plant growth and crop yield. Why it matters: This innovation could significantly reduce reliance on fossil fuels and promote sustainable urban development in the region, where cooling demands drive high electricity consumption.
Red Sea Farms, a Saudi AgTech company based at KAUST, secured a $10 million venture capital investment from Saudi and UAE investors. Their technology enables commercial farming using primarily saltwater, reducing freshwater consumption by 85-90%. The funding will be used to expand operations in Saudi Arabia, building more than six hectares of commercial farming facilities. Why it matters: This investment signals growing interest in sustainable AgTech solutions within the Gulf region to enhance food security and combat supply chain disruptions.
KAUST and Saudi healthtech company amplifAI health have signed an MoU to develop a new disease detection system. The system will combine amplifAI's AI technology with KAUST's HyplexTM hyperspectral imaging, initially for diabetic foot complications. Clinical trials are planned, with aims to reduce amputations and save Saudi Arabia over 2 billion Riyals annually. Why it matters: This partnership showcases the potential of combining Saudi AI and advanced imaging technologies to address pressing healthcare challenges in the region, particularly diabetes.