#88: Sky Kurtz: the $300M agri-tech giant and bad actors ruining a multi-billion dollar industry [Video]

I sat down with Sky Kurtz, Co-founder and CEO of Pure Harvest Smart Farms, to explore the $300M journey of building an agri-tech giant in the Middle East. In this episode, Sky shares his hard-earned lessons on avoiding down round disasters, the pitfalls of founder self-sabotage, and why a high valuation isn’t always a good thing.

We dive into the hard truth about why exits in MENA are so challenging, the role of tariffs in protecting domestic production, and how bad actors have tarnished the reputation of an entire industry. Sky also gives us a masterclass on navigating capital markets, working with your board (hint: don’t deprive them of their learning moments), and what to do when you’re stuck with an inflated valuation.

From ag-tech failures to billion-dollar blunders and business model innovation at scale, this conversation is packed with insights for founders, investors, and anyone interested in the future of food production.

Support for the show comes from Capital.com, a global investment platform with offices in Dubai. Click here (https://bit.ly/3CDIT3f) for a chance to win AED 1m.

00:00:00 Introduction: Why isn’t it raining money?
00:01:18 Welcome to Conversations with Loulou
00:02:51 Challenges in the MENA startup ecosystem
00:05:53 Investment strategies and graduation rates
00:06:37 The role of major funds in the region
00:10:54 Deal-specific vs. Blind pool models
00:28:26 Valuation pitfalls and market realities
00:38:23 Convertible notes explained
00:39:04 Understanding the floor valuation
00:41:55 Anti-dilution protection
00:43:22 Proactive cap table management
00:46:39 Investor relations and communication
01:00:52 Challenges in controlled environment agriculture
01:15:39 Innovations and product expansion
01:18:00 Innovative product launches and supply chain efficiency
01:18:13 Supporting traditional and regional farmers
01:18:58 Pure Harvest selections: fair trade and quality assurance
01:20:44 Challenges and strategies in controlled agriculture
01:21:17 Water footprint and food security
01:24:41 Complexities of agribusiness and market dynamics
01:29:34 Capital efficiency and technological innovations
01:30:35 Valuation challenges and investment strategies
01:34:52 Navigating the capital market landscape
01:49:26 Leadership and continuous learning
01:56:04 Conclusion and future outlook

LISTEN / SUBSCRIBE TO THE PODCAST
✩ Apple Podcasts: https://apple.co/4iXhFoB
✩ Spotify: https://spoti.fi/4gAK0Q2

CONNECT WITH LOULOU
✩ Website – https://conversationswithloulou.com/
✩ Sponsorship Requests: https://conversationswithloulou.com/contact/
✩ Instagram: https://www.instagram.com/louloukhazen/
✩ LinkedIn: https://www.linkedin.com/in/louloukhazen/
✩ X: https://twitter.com/louloukhazen

PLEASE SHARE YOUR FEEDBACK HERE
https://33s6g1ujw6w.typeform.com/to/KeVEuZe1

NEW TO CONVERSATIONS WITH LOULOU?
Hi I’m Loulou Khazen, I live in Dubai. I’m a tech entrepreneur turned venture capital investor, podcaster and public speaker. More importantly, I’m a mother of two! If you want to know more, visit my LinkedIn page or check out the latest profile by Entrepreneur Magazine: https://bit.ly/3QLwBKs

I would love to hear your comments and suggestions, write your thoughts in the comments below!