Nabt, a Saudi Arabia-based agtech startup, has raised $1.5 million in a seed funding round led by Merak Capital and joined by various angel investors, the company announced Monday. Founded in 2022 by Abdullah Alotaibi, Nabt operates a three-sided marketplace connecting farmers, business clients, and delivery partners, enabling farmers to sell fresh produce directly to hotels, restaurants, supermarkets, catering companies, and other commercial customers.
Nabt’s platform offers same-day delivery and transparent pricing by removing traditional intermediaries, thereby fostering direct, efficient relationships between farmers and business customers. It also provides farmers with business analytics and reporting tools to enhance operational efficiency, while businesses benefit from flexible payment options, including Mada, Visa, Mastercard, and STC Pay.
The startup is part of the Sunbolah FoodTech Accelerator, a program launched by Saudi Arabia’s Ministry of Environment, Water, and Agriculture (MEWA) to promote innovation in the food technology sector.
Founder and CEO of Nabt, Abdullah Alotaibi, expressed gratitude for the support of Merak Capital, angel investors, and the Sunbolah FoodTech Accelerator. He stated, “This investment is pivotal for Nabt as we strive to transform the fresh produce supply chain with transparency and sustainability at its core. Our commitment aligns closely with the objectives of Saudi Arabia’s Vision 2030, aimed at boosting local food security and empowering farmers.”
Merak Capital’s CEO Abdullah Altamami affirmed the investment’s alignment with Merak’s focus on innovative technology-driven solutions, stating, “Our investment in Nabt is a step toward revolutionising the fresh produce sector in the Kingdom. Nabt’s mission to support local agriculture resonates with our commitment to enhancing food security and promoting sustainability in the region’s FoodTech sector.”
This strategic partnership marks a significant step forward in Nabt’s mission to advance sustainable agricultural practices and support the Kingdom’s broader objectives for food security and economic diversification.
