- Nabt, a pioneering agritech startup, is streamlining Saudi Arabia’s fresh produce supply chain, aligning with Merak Capital’s focus on supporting innovative technologies that drive national growth.
- Nabt is part of the Sunbolah FoodTech Accelerator, which is a program by the Ministry of Environment, Water, and Agriculture that fosters innovative companies in the agricultural sector.
Riyadh, Saudi Arabia – Nabt, a Saudi agritech startup transforming the Kingdom’s fresh produce supply chain, has successfully closed a SAR 5.63 million (USD 1.5 million) seed investment round in Q3 2024. The round was led by Merak Capital, a prominent technology-focused investment firm, with the backing of key angel investors. The funding will fuel Nabt’s mission to advance food security in Saudi Arabia, enabling accelerated product development and expanded market reach.
Founded in 2022, Nabt operates a B2B marketplace that directly connects farmers with businesses, creating a transparent, efficient, and sustainable ecosystem. The startup’s initiatives align closely with Vision 2030 objectives, which prioritize self-sufficiency in food production to bolster food security and economic diversification.
Nabt’s commitment to innovation is exemplified by its active participation in the Sunbolah FoodTech Accelerator—a Ministry of Environment, Water, and Agriculture (MEWA) initiative launched earlier this year to nurture entrepreneurial talent in Saudi Arabia’s agricultural sector. Through the program, Nabt gained insights from a recent industry visit to Paris, including attendance at SIAL Paris 2024, where the team engaged with global food technology experts.
Abdullah Altamami, Founder and CEO of Merak Capital, shared his optimism for Nabt’s future impact: “At Merak Capital, we are dedicated to harnessing Nabt’s technology platform to redefine Saudi Arabia’s fresh produce sector. Our investment reflects our mission to champion startups with technology-driven solutions that align with national priorities in food security and sustainability.”
Dr. Ali Alsabhan, General Manager of Entrepreneurship at MEWA, emphasized Nabt’s growth during the Sunbolah program: “Watching Nabt’s journey has been inspiring. Their commitment to addressing real-world challenges aligns perfectly with the Ministry’s goals. I am confident that Nabt will be at the forefront of Saudi Arabia’s FoodTech sector and drive significant advancements.”
Reflecting on the support from Merak Capital and the Sunbolah FoodTech Accelerator, Abdullah Alotaibi, Founder and CEO of Nabt, stated, “We are incredibly grateful for the trust our investors have shown in us. This funding empowers us to leverage technology to bring transparency and resilience to Saudi Arabia’s fresh produce supply chain. Our efforts are fully aligned with Vision 2030 as we work to support local farmers and strengthen food security in the Kingdom.”
Saudi Arabia’s agriculture sector, valued at USD 18.77 billion in 2024, is projected to grow to USD 24.14 billion by 2029 with a CAGR of 5.2%. Positioned as a key player in this growing industry, Nabt seeks to bridge the gap between farmers and businesses, contributing to a robust, innovative agricultural landscape in Saudi Arabia.
Merak Capital, a leader in technology investments across sectors such as sustainable agriculture, transportation, and e-commerce, remains focused on fostering growth in sectors that contribute to national development. The firm’s portfolio reflects its commitment to digital transformation and technological advancements that support local and regional economic goals.
About Nabt
Founded in 2022, Nabt is a Saudi agritech startup that operates a B2B marketplace linking farmers directly with businesses. Focused on sustainability and food security, Nabt employs technology to create a transparent and efficient fresh produce supply chain, supporting the Kingdom’s Vision 2030.
About Merak Capital
Merak Capital is a technology-focused investment firm that identifies opportunities across various industries. The firm prioritizes investments in digital trends and transformative sectors, collaborating with companies that drive economic growth locally, regionally, and globally.
