Leveling Up the Saudi Food Supply Chain: Nabt Raises $1.5 Million
Nabt, a leading AgriTech startup based in Saudi Arabia, has secured a $1.5 million seed funding round led by Merak Capital, with participation from a group of esteemed angel investors. In fact, this significant investment will fuel Nabt’s mission to revolutionize the Kingdom’s fresh produce supply chain.
Nabt is Connecting Farmers to Saudi Businesses: A Win-Win Solution
Nabt operates a cutting-edge three-sided marketplace that connects farmers directly with businesses. The receiving end of the chain includes hotels, restaurants, supermarkets, and catering companies. By eliminating traditional middlemen, Nabt brings transparency and efficiency to the market. Additionally, it ensures fair prices for farmers and reliable access to fresh produce for businesses.
Key Features of the Nabt Platform:
- Seamless Transactions: Enables farmers to sell their produce directly to businesses with ease.
- Same-Day Delivery: Provides fast and reliable delivery of fresh produce, ensuring quality and minimizing spoilage.
- Transparent Pricing: Offers clear pricing and fair market value for all stakeholders.
- Data-Driven Insights: Provides farmers with valuable business analytics and reporting tools. Consequently, optimizing their operations and increasing profitability.
- Multiple Payment Options: Supports a variety of payment methods, including Mada, Visa, Mastercard, and STC Pay, for seamless and secure transactions.
A Vision for a Sustainable Future
“We are incredibly excited about this investment,” says Abdullah Alotaibi, Founder and CEO of Nabt. “This funding will enable us to scale our platform, expand our reach, and further empower farmers and businesses across the Kingdom. We are committed to building a more sustainable and efficient food supply chain that aligns with the goals of Saudi Vision 2030.”
Merak Capital: Driving Innovation in FoodTech
“Nabt is a truly innovative company with the potential to transform the Saudi food industry,” says Abdullah Altamami, Founder and CEO of Merak Capital. “We are thrilled to partner with Nabt and support their mission to empower farmers and improve food security in the Kingdom.”
A Bright Future for the Saudi Food Industry
Nabt’s success demonstrates the growing potential of agritech in Saudi Arabia. By leveraging technology to connect farmers with businesses, Nabt is creating a more efficient, sustainable, and equitable food system. This innovative approach has the potential to revolutionize the Saudi food industry. And, in effect, will contribute significantly to the nation’s economic growth.
