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.