Connect with us

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

on

saudi arabia's nomu secures $5 million for expansion plans
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.

Advertisement

📢 Get Exclusive Monthly Articles, Updates & Tech Tips Right In Your Inbox!

JOIN 17K+ SUBSCRIBERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Adobe Teases New AI Editing Tools And Updates In Premiere Pro

The video editing app will be enhanced with a generative extend tool, text-to-video, improved timeline waveforms, and more.

Published

on

adobe teases new ai editing tools and updates in premiere pro
Adobe

After launching the generative AI model Firefly last year, Adobe is now showcasing how the technology will be used in upcoming versions of the editing app Premiere Pro. In an early sneak peek, the company demonstrated several new features, including Object Addition and Removal, Generative Extend, and Text to Video.

The first new feature, Generative Extend, targets a common video editing problem by using AI to “Seamlessly add frames to make clips longer, so it’s easier to perfectly time edits and add smooth transitions”.

Meanwhile, Premiere Pro’s Object Addition & Removal tool will leverage Firefly’s generative AI to “Simply select and track objects, then replace them. Remove unwanted items, change an actor’s wardrobe or quickly add set dressings such as a painting or photorealistic flowers on a desk,” Adobe states.

Adobe also showcased another new feature that can automatically generate new film clips using a text prompt. To use the content creation tool, editors can “Simply type text into a prompt or upload reference images. These clips can be used to ideate and create storyboards, or to create B-roll for augmenting live action footage,” Adobe explained. The company seems to be commercializing this particular feature extremely quickly, considering generative AI video only appeared a few months ago.

Also Read: UGREEN Unveils Nexode RG 65W Charger For Middle East

The new additions to Premiere Pro will be added later this year, but Adobe is also introducing smaller improvements to the editing app in May. The changes include interactive fade handles to enable easier transitions, an Essential Sound badge that uses AI to “automatically tag audio clips as dialogue, music, sound effects or ambience, and add a new icon so editors get one-click, instant access to the right controls for the job”, along with effect badges and a new look for waveforms in the timeline.

Continue Reading

#Trending