Riyadh, Saudi Arabia — Nabt, a Saudi-based agritech startup, has secured a SAR 5.63 million (USD 1.5 million) seed round, led by Merak Capital with support from prominent angel investors. The funding aims to accelerate Nabt’s technological advancements in Saudi Arabia’s fresh produce sector, aligning with Merak Capital’s commitment to innovative technology-driven growth.
Founded in 2022, Nabt operates a B2B marketplace connecting local farmers directly with businesses, promoting efficiency, transparency, and sustainability in the supply chain. By enhancing accessibility and reducing intermediaries, Nabt contributes to Saudi Arabia’s food security goals and the nation’s mission to achieve self-sufficiency in food production.
The startup’s involvement in the Sunbolah FoodTech Accelerator—an initiative by the Ministry of Environment, Water, and Agriculture (MEWA)—provides it with vital support for growth and innovation. This program, launched to foster entrepreneurial efforts in agriculture, equips companies like Nabt with resources, mentorship, and opportunities for growth in the Saudi foodtech landscape. Nabt’s recent participation in a Paris immersion trip with the program, including a visit to the SIAL Paris 2024 exhibition, allowed the startup to network with international foodtech experts, broadening its industry insight and connections.
Abdullah Altamami, CEO of Merak Capital, expressed excitement for the partnership, saying, “At Merak Capital, our commitment lies in harnessing Nabt’s technology platform to revolutionize the fresh produce industry in the Kingdom. We are enthusiastic about Nabt’s potential to create a substantial impact in the agriculture sector, perfectly aligning with our objective of investing in companies that enhance food security and sustainability in the region.”
Dr. Ali Alsabhan, MEWA’s General Manager of Entrepreneurship, added, “Witnessing Nabt’s growth through the Sunbolah FoodTech Accelerator has been inspiring. Nabt’s innovative solutions address real-world agricultural challenges, aligning with the Ministry’s strategic objectives. I have no doubt they will lead meaningful change in Saudi Arabia’s FoodTech landscape.”
Nabt’s Founder and CEO, Abdullah Alotaibi, thanked Merak Capital, the accelerator program, and all investors for their support, noting, “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.”
With Saudi Arabia’s agriculture sector valued at USD 18.77 billion in 2024 and projected to reach USD 24.14 billion by 2029, Nabt is well-positioned to capitalize on the growth opportunities. By connecting farmers and businesses and improving food security infrastructure, Nabt is contributing to the Kingdom’s economic diversification and food security ambitions under Vision 2030.
Merak Capital, with a focus on technology investments in transportation, sustainable agriculture, and e-commerce, views Nabt as an instrumental addition to its portfolio and a key player in Saudi Arabia’s sustainable development agenda.
