News

Saudi Arabia’s NOMU Secures $5 Million For Expansion Plans

The FoodTech startup will use the capital to enter new markets across the MENA region and, eventually, Pakistan and Sub-Saharan Africa.

Published

2 years ago

July 4, 2023

Nour Nasir

NOMU

NOMU, the Saudi Arabian food technology startup, has raised $5 million in seed funding that will allow the company to expand further into the Middle East and across North Africa, reaching over 50 cities by 2025.

The Riyadh-based startup received investments from DIV Capital, Core Vision, Shurfah, and Purity for Information Technology. As well as investing in new technology, NOMU will use the funding to grow its business-to-business services across the MENA region’s hotel, restaurant, and cafe sectors.

“NOMU is committed to revolutionizing the FoodTech supply chain, providing greater convenience and efficiency for businesses in the Mena region,” explained Shehab Mokhtar, co-founder, and chief executive of NOMU.

Shehab Mokhtar established NOMU in 2022 alongside Yassir El Ismaili, Salman Attieh, and Ahmed Eldemerdash. The NOMU platform helps to streamline food industry inventory sourcing, financing, storage, and delivery, helping hotels and restaurants run more efficiently. The startup has also launched an app for families to purchase groceries.

So far, NOMU has partnered with key players such as Savola and Procter & Gamble and recorded 10x revenue growth over the last 12 months.

Also Read: Dubai Plans 100,000 Square Foot AI & Web 3.0 Campus

The company’s success comes at a time when Saudi Arabia is pushing itself as a global hub for emerging technology as part of its grand “Vision 2030” program. The Kingdom was the second-most funded MENA country after the UAE last year, attracting nearly $1 billion in investments as the government attempts to pivot the economy away from its reliance on the oil industry.

Although FinTech was the “industry of choice” for angel investors in Saudi Arabia last year, food and beverage startups like NOMU accounted for the second-most funded industry, raising a substantial $187 million.

News

“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

20 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.