Saudi agriculture tech company Nabt secures $1.5 million in seed funding for its business-to-business platform focusing on the trading of fresh produce
Saudi Agtech Startup Nabt Raises $1.5 Million to Revolutionize Fresh Produce Supply Chain
Nabt, a Saudi Arabian agtech startup, has secured $1.5 million in a seed round led by Merak Capital. The investment will enable Nabt to leverage technology to enhance food security, support local farmers, and make fresh produce more accessible and affordable.
Founded by Abdullah Alotaibi, Nabt operates a three-sided marketplace connecting farmers, businesses, and delivery partners. By eliminating traditional middlemen, the platform offers same-day delivery and clear pricing.
The funding will be used to optimize the supply chain from farmers to consumers, reduce food loss and waste, and ensure sustainability in agriculture practices and supply logistics. Nabt's goals align with the objectives of Vision 2030, the Saudi Arabian national development plan, which aims to improve the quality of life and economic growth.
Nabt is a part of Sunbolah FoodTech Accelerator, a program launched by the Saudi Ministry of Environment, Water, and Agriculture (MEWA). This association further underscores Nabt's commitment to promoting sustainable agriculture and food security in the region.
Farmers on Nabt's platform receive business analytics and reporting tools to optimize their operations. Additionally, businesses can access multiple payment options including Mada, Visa, Mastercard, and STC Pay on the platform.
Abdullah Alotaibi commented on the investment, expressing gratitude and commitment to transforming the fresh produce supply chain through transparency and sustainability. He stated, "We are thrilled to have the support of Merak Capital and our other investors as we work towards our mission of making fresh produce more accessible, affordable, and environmentally sustainable."
With this investment, Nabt is poised to revolutionize the fresh produce supply chain in Saudi Arabia and potentially the broader Middle Eastern market, ensuring a more efficient, waste-reducing, and sustainable food system for all.
