Riyadh – Sharikat Mubasher: Egypt-based agri-tech startup ReNile announced the successful closure of a of $450,000 funding round from undisclosed investors.
ReNile also revealed plans to expand its footprint into the Saudi Market, establishing a subsidiary to manufacture its systems, in addition to entering a strategic partnership in Kuwait in the near Future, as per the CEO announcement.
Hazem Eltawab CEO of ReNile also unveiled that the company is targeting to win contracts worth EGP 40 million during the first quarter of 2025 and expects ReNile to become a billion-dollar company in five years.
ReNile is a leading environmental solution and agritech company providing end-to-end solutions for smart farming using the internet of things (IoT) and water, air, and soil quality management. The company’s monitoring systems provide cutting-edge real-time online analytics that helps enhance the production efficiency and reduce consumption of our customer farms.
ReNile provides a full solution, from monitoring farms, alerting in emergencies, controlling them, and providing analytics of the best practice model for farming through the online platform.
