NOMU, the food-tech supply chain platform aiming to transform the MENA region’s food and beverage industry, has achieved a major milestone with the successful completion of its first round of financing following the merger and establishment of Nomu Group.
The seed round has raised an impressive $5 million from prominent investors, including DIV Capital, Shurfah, Core Vision, Purity for Information Technology, as well as key family offices in KSA such as Altoukhi Family Office and Bakr Family Office, along with angel investors. The funds obtained will be utilized to expand NOMU’s B2B HORECA offering, with a specific focus on restaurants and financing solutions. NOMU has ambitious plans to develop a Software-as-a-Service (SaaS) solution and an AI-powered chatbot for procurement officers. Sustainability and healthy unit economics are at the core of the company’s objectives, and NOMU has already achieved profitability in two markets.
Since its establishment in 2022, NOMU has experienced remarkable growth and currently operates in four countries: the Kingdom of Saudi Arabia, Egypt, Tunisia, and Morocco. However, the company’s expansion plans are far from limited, as it aims to expand into 50 cities and towns by 2025. Impressively, NOMU has already demonstrated a positive cash flow business model, achieving 10 times revenue growth within just 12 months and maintaining healthy gross margins. The company has also formed strategic international partnerships with industry giants like Savola and Procter & Gamble.
NOMU Group, founded by Salman Attieh, Yassir El Ismaili El Idrissi, Shehab Mokhtar, and Ahmed Eldemerdash, has its headquarters in Riyadh, KSA, with a holding structure in Abu Dhabi’s International Financial Centre. This strategic positioning enables NOMU to further develop its operations and expand its presence, with plans to enter the Pakistani market and key sub-Saharan countries in the near future.
Shehab Mokhtar, Co-Founder and CEO of NOMU Group, expressed enthusiasm for the overwhelming support received from investors, both in terms of funding and strategic partnerships. Mokhtar emphasized that the seed round funding will bolster NOMU’s B2B HORECA offering, drive investments in cutting-edge technology, and pave the way for expansion into new markets. NOMU remains committed to revolutionizing the food-tech supply chain, delivering enhanced convenience and efficiency for businesses in the MENA region.
The successful completion of NOMU’s seed funding round marks a significant milestone in the company’s journey to reshape the F&B supply chain. With robust financial backing, strategic partnerships, efficient centralized operations, and visionary leadership, NOMU Group is poised to lead industry transformation and foster innovation throughout the region.