NOMU, the innovative food-tech supply chain platform set to revolutionize the food and beverage industry in the MENA region, announced the successful closure of its first round of financing following the merger and establishment of Nomu Group.
The seed round secured $5 million in funding from prominent investors, including DIV Capital, Shurfah, Core Vision, Purity for Information Technology, as well as notable family offices such as Altoukhi Family Office and Bakr Family Office, along with angel investors. The capital raised will be utilized to expand NOMU's B2B HORECA offering, with a particular focus on restaurants and financing solutions. NOMU's ambitious plans include the development of a Software-as-a-Service (SaaS) solution and an AI assistant procurement officer chatbot. Sustainability and healthy unit economics are key priorities for the company, which has already achieved profitability in two markets.
Since its inception in 2022, NOMU has experienced rapid expansion and currently operates in four countries: the Kingdom of Saudi Arabia, Egypt, Tunisia, and Morocco. The company has set its sights on expanding into 50 cities/towns by 2025. Impressively, NOMU has already established a positive cashflow business model, achieving a 10x revenue growth within 12 months, with gross margins at healthy sustainable levels. Additionally, NOMU has formed strategic international partnerships with industry giants, including Savola and Procter & Gamble.
NOMU Group was founded by Salman Attieh, Yassir El Ismaili El Idrissi, Shehab Mokhtar, and Ahmed Eldemerdash, with its headquarters located in Riyadh, KSA, and a holding structure in Abu Dhabi's International Financial Centre. This strategic positioning enables NOMU to further develop its operations and expand its reach, with plans to cover Pakistan and key sub-Saharan countries in the near future.
"We are thrilled with the overwhelming support we have received from our investors, both in terms of funding and strategic partnerships," said Shehab Mokhtar, Co-Founder and CEO of NOMU Group. "This seed round allows us to strengthen our B2B HORECA offering, invest in cutting-edge technology, and expand into new markets. NOMU is committed to revolutionizing the food-tech supply chain, providing greater convenience and efficiency for businesses in the MENA region."
The successful seed funding round for NOMU signifies a significant milestone in the company's journey to transform the F&B supply chain. With robust financial backing, strategic partnerships, efficient centralized OPEX, and visionary leadership, NOMU Group is poised to reshape the industry and drive innovation throughout the MENA region.