Riyadh, Saudi Arabia: Nabt, a Saudi agritech startup, has raised SAR 5.63 million (USD 1.5 million) in a seed funding round. The investment was led by Merak Capital and supported by prominent angel investors. This funding will accelerate Nabt’s technology development in Saudi Arabia’s fresh produce market.
Innovating the Fresh Produce Supply Chain:
Founded in 2022, Nabt operates a B2B marketplace that connects local farmers directly with businesses. By reducing intermediaries, Nabt promotes efficiency, transparency, and sustainability in the supply chain. This aligns with Saudi Arabia’s goals for food security and self-sufficiency.
Support Through Sunbolah FoodTech Accelerator:
Nabt is part of the Sunbolah FoodTech Accelerator, an initiative by the Ministry of Environment, Water, and Agriculture (MEWA). The program supports agritech startups with resources, mentorship, and growth opportunities. Recently, Nabt participated in a Paris immersion trip and the SIAL Paris 2024 exhibition. These events helped Nabt connect with international foodtech experts and expand its industry knowledge.
Strong Backing from Investors and Authorities:
Abdullah Altamami, CEO of Merak Capital, stated, “We are excited to support Nabt’s mission to revolutionize the fresh produce industry in the Kingdom.” He emphasized the alignment between Nabt’s goals and Merak Capital’s focus on food security and sustainability.
Dr. Ali Alsabhan, MEWA’s General Manager of Entrepreneurship, praised Nabt’s growth through the accelerator. He said Nabt’s innovative solutions meet real agricultural challenges and will lead change in Saudi Arabia’s foodtech sector.
Vision 2030 and Market Potential:
Nabt’s Founder and CEO, Abdullah Alotaibi, expressed gratitude toward investors and the accelerator program. He highlighted Nabt’s commitment to enhancing food security and supporting local farmers through technology, in line with Vision 2030.
Saudi Arabia’s agriculture sector is valued at USD 18.77 billion in 2024 and is expected to grow to USD 24.14 billion by 2029. Nabt is well positioned to capitalize on these opportunities while contributing to the Kingdom’s economic diversification.
Merak Capital’s Strategic Investment:
Merak Capital focuses on technology investments in sustainable agriculture, transportation, and e-commerce. Nabt is seen as a key player in Saudi Arabia’s sustainable development goals and an important addition to Merak’s portfolio.
