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iyris

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An innovative technology company reducing the carbon and fresh water footprint of food sector

Thuwal, Saudi ArabiaFounded 2018Food
Valuation $50–100M Last recorded · 2024
Headcount 100–500 Current team size
Total funding $50–100M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for iyris and the history behind them.

About iyris

Iyris, formerly known as RedSea, is an AgriClimate technology company established in 2018 with headquarters in Saudi Arabia. The company was founded by Ryan Lefers, Mark Tester, and Derya Baran, spinning out of the King Abdullah University of Science and Technology (KAUST). The founders' backgrounds are deeply rooted in science and engineering; Lefers holds a PhD in Environmental Engineering from KAUST and grew up on a farm in the US Midwest, driving his ambition to apply research to real-world agricultural challenges. Tester is a renowned plant scientist, and Baran is a professor of Material Science and Engineering. Their collective expertise underpins the company's mission to address food security in hot climates by developing technologies that mitigate the effects of extreme heat and water scarcity.

The company operates as a pure-play technology provider, focusing on the commercialization and development of its proprietary solutions for the agricultural sector. Its business model involves selling its technology products directly to commercial growers, primarily those with low-to-mid-tech farming operations, which represent a significant majority of farmers globally. Iyris serves a global market, with technologies deployed in at least eleven countries, including the UAE, Egypt, Morocco, Spain, Portugal, and Mexico. The company generates revenue through the sale of its products, which are designed to offer a rapid return on investment, often within a single crop season.

Iyris's core product suite is designed to create more sustainable and profitable farming in harsh environments. Its flagship product is SecondSky, a transparent, heat-blocking greenhouse cover available as polycarbonate panels, polyethylene films, and nets. This technology utilizes an innovative nanocomposite material that blocks near-infrared (NIR) heat radiation while allowing the passage of light necessary for photosynthesis. Benefits for farmers include a reduction in energy consumption by over 40% and water usage by up to 30%, leading to extended growing seasons and improved crop yields. Beyond greenhouse covers, iyris is developing resilient plant genetics through a novel hybridization process to breed crops, such as tomatoes, that are resistant to heat, drought, and salinity. This holistic approach, combining advanced materials and plant science, differentiates iyris from competitors by offering a comprehensive toolkit for climate-adaptive agriculture.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2018
Headquarters
Thuwal, Saudi Arabia
Employees
196
Open positions
None listed
Dealroom signal
66.8/100
Industry
Food
Sub-industry
AgriTech
Sector
Food, Farming, Spinout, Sustainable Development Goals, Climate Tech, Woman Founder, DT and LS, science-based
Technology
Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

9 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES AOther financing May 2024 $16M $64M Global Ventures · Dubai Future District Fund · Bonaventure Capital · Ecosystem Integrity Fund ↗
EARLY VCOther financing Apr 2022 $19M $74M National Transformation Institute · OlsonUbben · Wa'ed Ventures · Savola Group ↗
Showing the latest 2 of 9 recorded eventsBook a demo for the full funding history →

Growth signals

iyris website traffic

Latest recorded traffic for iyris is 2.7K monthly website visits, up 233.3% over the last three months. iyris's team declined 5.8% over the past year.

Latest monthly visits2.7K 3-month web change+233.3% 1-year team growth-5.8%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Open positions

Openings linked to this company in Dealroom
1 distinct opening shownExplore hiring signals →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

14 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed3 investors entered at this stage

  • National Transformation Institute
  • TAQADAM Startup Accelerator
  • King Abdullah University of Science and Technology

Series A11 investors entered at this stage

  • Bonaventure Capital
  • Wa'ed Ventures
  • AppHarvest
  • FII Institute
  • Global Ventures
  • Savola Group
  • OlsonUbben
  • Ecosystem Integrity Fund
  • Dubai Future District Fund
  • Yusuf Bin Ahmed Kanoo
  • Globivest
Team profiled 13 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 6 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇸🇦 Saudi Arabia · Thuwal HQ
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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about iyris on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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