Cairo: Saudi Arabia-based food technology startup NOMU has successfully raised $5 million in seed funding from various investors including DIV Capital, Shurfah, Core Vision and Purity for Information Technology, as well as family offices such as the Altoukhi family. Office and Bakr family office.
The newly secured funds will be used by NOMU to expand its presence in the hotel, restaurant and catering sector.
The company also plans to develop a software-as-a-service solution and an artificial intelligence-assisted procurement chatbot.
Moreover, NOMU plans to extend its work to Pakistan and sub-Saharan African countries in the near future.
The company was founded in It follows the merger of Saudi-based Jumlati and Egyptian startups Apetito in late 2022.
The successful funding round demonstrates the investor’s confidence in NOMU’s business model and growth potential, according to a statement.
Shihab Mokhtar, Founder and CEO of NOMU Group, said, “We are very pleased with the strong support we have received from our investors, both financially and in terms of strategic partnership.”
With the new capital infusion, the company is well positioned to improve its market presence, expand its product offerings and capitalize on new opportunities in the food technology sector.
“This seed round will allow us to strengthen our business-to-business HORECA (hotel, restaurant and catering) offering, invest in technology and expand into new markets. NOMU is committed to transforming the food technology supply chain, providing greater convenience and efficiency to businesses in the MENA (Middle East and North Africa) region,” added Mokhtar.
The company operates in Saudi Arabia, Egypt, Tunisia and Morocco and plans to expand to 50 new cities by 2025.
United Arab Emirates workforce technology company Alfie has raised $2.5 million in a pre-seed funding round
UAE-based HR technology startup Alfie has successfully raised $2.5 million in a pre-seed funding round by Preface Ventures, a US-based venture capital firm, with participation from Kayan Ventures, Aditum Ventures and Wayfinders.
In the year Founded in 2022 by Youssef Al-Barqawi, Becky Jeffries and Dina Mohamed-Lati, alfii aims to help growing businesses manage their HR operations and streamline their administrative tasks.
With the newly secured funding, alfii plans to expand its team and further develop its workforce automation platform powered by financial technology solutions.
“We’re looking to build the next generation of this product segment, and we’re building it entirely in-house — which means we need to bring in world-class talent to grow our business and better serve our customers,” he said. – Barkawi, Alfie CEO and Founder
The investment supports the company’s growth strategy, streamlining its workforce and improving its overall efficiency, allowing it to better serve its customers.
In addition, several local and regional angel investors contributed to the funding round.
Chari of Morocco raised $1.5 million in funding
Morocco-based business-to-business e-commerce and fintech startup Chari has successfully raised $1.5 million in funding from Verof-Capel Africa Ventures.
The investment will be instrumental in enabling Chari to expand its operations across Africa and develop its financial services portfolio.
In the year Founded in 2020 by Ismail Belkhayat and Sofia Alje, Chari provides a platform for retailers to buy bulk inventory from suppliers.
By facilitating efficient business-to-business transactions, Chari aims to streamline the procurement process for businesses.
“We are thrilled to have VKAV on board as our partner,” said Ismail Belkhayat, Chari’s CEO and co-founder. We believe that our pan-African network and deep connections with the Japanese corporate community will bring our efforts to continuous value.
In addition to funding, Chari appointed VKAV partner Ryosuke Yamawaki as a strategic advisor.
“Chari is uniquely positioned to transform the informal retail sector and transform the informal business sector in Africa. In a statement, Yamawaki strongly believes that their innovative approach will benefit the local market and serve as a showcase for the rest of the world.
This strategic partnership provides valuable insights and guidance to support partner development and strategic decision-making.
The recent funding round is Chari’s third successful fundraising effort this year.
In March, the company received a seed round from Plug & Play and $1 million in funding from Orange Ventures.
MENA startups hit 35.6 million in June
Startups in the MENA region secured $35.6 million in 45 deals last month, closing the first half of the year at $1.6 billion.
In terms of funding value, Saudi Arabia in June raised $25 million in 12 rounds, while the United Arab Emirates was a distant second, with startups raising $6 million in 20 rounds.
Egyptian startups ranked third with $4.8 million in capital, largely thanks to a $3.5 million funding round for Egyptian trucking marketplace Trella.
Fintech emerged as the sector with the highest number of transactions, with seven startups raising $3 million.
However, the food technology space received the most funding, with four startups raising more than $20 million, representing 56 percent of the total amount raised. Investor interest has also been seen in other sectors such as logistics, esports and mobility.
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