KSA’s Nabt Nets US$1.5 Million in Seed Funding Round
The investment will allow the agritech startup to speed up product development and expand its footprint in the kingdom.
Nabt, a Saudi agritech startup, has pocketed US$1.5 million in a seed funding round led by the Riyadh-based technology-focused investment firm Merak Capital, along with contributions from angel investors.
The investment, which was wrapped up in the third quarter of 2024, aims to support Nabt’s product development and expansion within the Saudi market.
Founded in 2022 by Abdullah Alotaibi, Nabt operates a business-to-business (B2B) marketplace that connects farmers directly with businesses, aiming to improve transparency, efficiency, and sustainability in agricultural supply chains.
Nabt is a part of the Sunbolah FoodTech Accelerator, a program launched in 2024 by KSA’s Ministry of Environment, Water, and Agriculture to support agritech startups through resources aimed at innovation and growth in the sector.
In a statement, Alotaibi said, “We are committed to transforming the fresh produce supply chain through transparency and sustainability. This investment will enable us to leverage technology to enhance food security and support local farmers, aligning with the goals of Vision 2030. We look forward to making a meaningful impact in the agricultural sector.”
Ali Alsabhan, General Manager of Entrepreneurship at MEWA, noted Nabt’s progress through the Sunbolah FoodTech Accelerator, calling it a promising example of Saudi entrepreneurial talent in agritech. “As a GM, I believe that Nabt is aligned with the strategic goals and objectives for the agriculture sector within the Ministry,” he said. “I have no doubt they will lead the charge in foodtech and create meaningful change.”
Nabt’s operations align with growth in Saudi Arabia’s agricultural sector, currently valued at around $18.77 billion in 2024, and projected to reach $24.14 billion by 2029, with a compound annual growth rate (CAGR) of 5.20 percent.
