Saudi agtech startup Nabt has raised $1.5 million in a seed round led by Merak Capital, it announced on Monday. The round was also joined by a few angel investors.
Founded in 2022 by Abdullah Alotaibi, Nabt operates a three-sided marketplace connecting farmers, businesses, and delivery partners. The platform enables farmers to sell fresh produce directly to hotels, restaurants, catering companies, supermarkets, and other business customers.
The platform eliminates traditional middlemen to ensure transparency between farmers and businesses, offering same-day delivery and clear pricing. Farmers receive business analytics and reporting tools to optimize their operations, while businesses can access multiple payment options including Mada, Visa, Mastercard, and STC Pay.
The startup is a part of Sunbolah FoodTech Accelerator, a program launched earlier this year by the Saudi Ministry of Environment, Water, and Agriculture (MEWA) to support foodtech startups.
Abdullah Alotaibi, Founder and CEO of Nabt, commenting on the investment, said, “We extend our gratitude to Merak Capital, our angel investors, and the Sunbolah Foodtech Accelerator program for their confidence in our vision. We are committed to transforming the fresh produce supply chain through transparency and sustainability. This investment will enable us to leverage technology to enhance food security and support local farmers, aligning with the goals of Vision 2030.”
Abdullah Altamami, Founder and CEO of Merak Capital, said, “At Merak Capital, our commitment lies in harnessing Nabt’s technology platform to revolutionize the fresh produce industry in the Kingdom. The investment aligns seamlessly with our core mission of championing innovative startups with a strong focus on technology.”
“We are enthusiastic about Nabt’s potential to create a substantial impact in the agriculture sector. Our collaboration with them perfectly aligns with our overarching objective of investing in companies that offer technological solutions in the FoodTech sector, thereby enhancing food security and sustainability in the region,” he added.