Nabt has successfully secured a $1.5 million seed investment from Merak Capital and angel investors, enhancing its potential for growth and market expansion in the agritech sector.
Nabt connects farmers directly with businesses, eliminating middlemen and improving the efficiency and transparency of the fresh produce supply chain.
TribeTechie learnt that the startup’s participation in the Sunbolah FoodTech Accelerator provided it with mentorship, industry expertise, and networking opportunities to enhance its operational capabilities.
The Saudi agricultural sector is projected to grow significantly, and Nabt’s technology-driven approach positions it as a key player in addressing supply chain challenges and supporting local farmers.
Saudi Arabia’s agritech sector has taken a significant step forward with Nabt, a foodtech startup, securing a $1.5 million seed investment.
This funding round, led by Merak Capital and supported by angel investors, marks a crucial milestone for Nabt as it seeks to revolutionize the fresh produce supply chain in Saudi Arabia.
The investment will propel Nabt’s efforts in product development and market expansion, aligning with the Kingdom’s broader goals of advancing food security, sustainability, and economic diversification.
Founded in 2022 by Abdullah Alotaibi, Nabt operates as a B2B marketplace that directly connects farmers with businesses.
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This model eliminates traditional middlemen, creating a streamlined and transparent supply chain.
By enabling direct communication and transactions between farmers and buyers, Nabt aims to increase efficiency, reduce costs, and enhance the quality of fresh produce reaching the market.
Merak Capital, a technology-focused investment firm, led Nabt’s funding round, highlighting its commitment to advancing innovative startups in the agritech and foodtech sectors.
Abdullah Altamami, Merak Capital’s CEO, emphasizes that the firm’s investment aligns with its mission to back technology-driven solutions that impact local markets meaningfully.
Merak’s involvement brings not only capital but also strategic expertise, bolstering Nabt’s journey to reshape the fresh produce industry.
Altamami points out that this collaboration with Nabt serves a larger purpose, advancing food security and sustainable agriculture, two crucial aspects of the Kingdom’s development initiatives.
This strategic partnership aligns with Merak’s investment philosophy of supporting high-impact ventures in sectors including transportation, e-commerce, and sustainable agriculture.
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