Future Food Foundry (3F), a UAE-headquartered agri-food technology company, has announced a strategic deal worth over USD 20 million dollars to merge NextGen Farms, which specialises in controlled environment farming technologies, and agtech firm Sustenir Group.
The combined entity will operate under the Sustenir brand.
“Future Food Foundry is committed to leading the way in sustainable controlled environment agriculture and food innovation. This investment underscores our dedication to bringing cutting-edge agri-food technology to the markets of our presence. We are excited about the potential of this merger to transform food production and availability in the region,” said Leo Musatov, Co-Founder and Managing Director at Future Food Foundry.
3F was founded in June 2022 in Dubai, UAE, and develops, builds, manages, and distributes high-tech solutions for crops, controlled environment agriculture, and alternative proteins.
According to the company, 3F focuses on developing R&D, production, and distribution facilities in partnership with local government agencies in the UAE and Singapore.
It plans to establish additional operating hubs in the MENA region and Asia-Pacific.