SAUDI ARABIA – Saudi Arabia-based agritech startup Nabt has secured SAR 5.63 million (USD 1.5 million) in a seed funding round led by Merak Capital, a technology-focused investment firm, alongside support from angel investors.
This capital injection will accelerate Nabt’s product development and scale its market presence, driving innovation within Saudi Arabia’s fresh produce supply chain while advancing the nation’s food security goals.
Founded in 2022, Nabt is a B2B marketplace connecting farmers with businesses, fostering a transparent, efficient, and sustainable fresh produce industry.
By enabling direct transactions between agricultural producers and buyers, Nabt aims to support Saudi Arabia’s self-sufficiency and food security goals, aligning with Vision 2030’s objectives for economic diversification and agricultural advancement.
Nabt’s growth trajectory has been strengthened through its participation in the Sunbolah FoodTech Accelerator, an initiative by the Ministry of Environment, Water, and Agriculture (MEWA) that supports agritech innovation.
The program has provided Nabt with mentorship and resources essential for growth within the Kingdom’s agricultural sector.
As part of its development, Nabt recently attended SIAL Paris 2024, a global food technology event that provided exposure to industry insights and best practices.
This international engagement is expected to enhance Nabt’s strategic direction and market awareness as it scales.
Merak Capital CEO Abdullah Altamami strongly supported Nabt’s mission: “Our commitment at Merak Capital lies in harnessing Nabt’s technology platform to transform the fresh produce industry in Saudi Arabia.
“This investment aligns with our mission to back tech-driven startups, and we are excited about Nabt’s potential to make a meaningful impact in agriculture.”
Abdullah Alotaibi, Nabt’s Founder and CEO, expressed gratitude for the support. “This investment will empower us to leverage technology to transform the fresh produce supply chain, enhance food security, and support local farmers in line with Vision 2030.”
Nabt’s expansion aligns with broader trends in Saudi Arabia’s agricultural sector, valued at approximately USD 18.77 billion in 2024 and projected to reach USD 24.14 billion by 2029.
By building a robust and efficient infrastructure for fresh produce distribution, Nabt is positioned to capitalize on these opportunities and strengthen the Kingdom’s food security.
Merak Capital’s investment in Nabt reflects its commitment to supporting national priorities, with a focus on technology-driven growth across agriculture, transportation, and e-commerce.
