Matbakhi raised $2.3 million in pre-seed led by Bugshan Investment Company & various angel investors

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Riyadh-based food-tech company Matbakhi raised $2.3 million in a pre-seed led by Bugshan Investment Company and various angel investors.

To democratise access to carefully selected F&B concepts, Matbakhi works with regional Saudi chefs. Although there are lofty goals for Saudi Arabia’s hospitality industry through 2030, there are numerous obstacles that are limiting F&B profitability and the level of offerings and services available to hotel guests. The startup currently has four brands and operates out of five locations in Riyadh. By the end of 2023, it hopes to expand to the Eastern Region and cover more of Riyadh.

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Matbakhi raised $2.3 million in pre-seed led by Bugshan Investment Company & various angel investors

Riyadh-based food-tech company Matbakhi raised $2.3 million in a pre-seed led by Bugshan Investment Company and various angel investors.

To democratise access to carefully selected F&B concepts, Matbakhi works with regional Saudi chefs. Although there are lofty goals for Saudi Arabia’s hospitality industry through 2030, there are numerous obstacles that are limiting F&B profitability and the level of offerings and services available to hotel guests. The startup currently has four brands and operates out of five locations in Riyadh. By the end of 2023, it hopes to expand to the Eastern Region and cover more of Riyadh.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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