Saudi company Uvera, which specializes in developing deep tech solutions for the fresh food sector, announced the closing of its seed investment round. Participants included the Morgan Stanley Inclusive & Sustainable Ventures program, **LAB7** (Aramco Saudi Arabia's specialized venture builder arm), along with Core Vision, and several strategic angel investors.
The company did not disclose the financial value of the investment round. However, it stated that the new funding will be used to expand the reach of its commercial solutions and accelerate the development of its technology platform. This platform combines shelf-life extension technologies, blockchain-based traceability, and IoT-powered data analytics, all contributing to enhancing the efficiency of fresh food supply chains.
Uvera provides solutions targeting producers, distributors, and retailers. The goal is to maintain the quality of food products for longer periods, reduce loss and waste, and improve operational efficiency by offering a comprehensive view of the supply chain from production to the point of sale.
The company emphasized that LAB7's role will extend beyond financial investment. LAB7 will collaborate with Uvera to strengthen the platform's technical infrastructure, increase its scalability, and improve data security, thereby supporting the development of traceability, analytics, and supply chain intelligence solutions.
Dr. Asrar Damdam, Founder and CEO of Uvera, stated that closing this investment round marks a significant milestone for the company. She added that it reflects investors' confidence in Uvera's ability to develop innovative solutions to tackle food waste challenges on a large scale.
She further explained that the company is building a technical infrastructure to support the creation of a more resilient and efficient food ecosystem. She noted that the new funding will help expand the scope of the company's solutions and reach a larger segment of partners across various stages of the food value chain.
Uvera clarified that approximately one-third of the food produced globally is lost or wasted, leading to significant economic losses. The company affirmed that its platform aims to address these challenges by extending the shelf life of fresh food products while providing a comprehensive view of product movement across different stages of the supply chain.
The platform integrates shelf-life extension technologies for food products with IoT-powered traceability and smart analytics. This helps companies make more accurate decisions, improve inventory management, reduce spoilage and waste rates, and enhance the efficiency of transportation and distribution operations.
LAB7, backed by Aramco Saudi Arabia, specializes in building and developing tech startups by providing technical support, specialized expertise, accelerating product development, and assisting companies in market access.
In parallel, the Morgan Stanley Inclusive & Sustainable Ventures program provides funding and resources to early-stage startups, supporting innovations that contribute to building a more inclusive and sustainable economy. Core Vision, on the other hand, focuses on investing in fast-growing companies, offering strategic support and connecting entrepreneurs with networks of partners and investors to accelerate their business growth.
This investment round reflects the growing interest of both local and international investors in Saudi companies operating in deep tech. This is especially true for those developing solutions to address food security and sustainability challenges, reduce food waste, and improve supply chain efficiency through AI, blockchain, and IoT technologies.
Related editorial
Ahmed Ameer (Asphalt & Sinbad) Explains Egypt's Shift to Smarter Line Haul Pricing
Egypt's inter-city logistics market is undergoing a significant transformation in how 'Line Haul' services are priced. Entrepreneur Ahmed Ameer explains that the industry is moving away from older methods like per-invoice or per-bag pricing towards a more modern 'per-shipment' model. This exciting shift makes logistics services much easier to measure and scale, ultimately boosting operational efficiency and helping businesses manage their costs more effectively.
Bank NXT and EFG Hermes Launch Egypt's First Card to Blend Daily Spending with Investments
Bank NXT and EFG Hermes have teamed up to launch Egypt's first co-branded credit card. This innovative card, designed specifically for EFG Hermes ONE clients, uniquely brings together banking and securities brokerage services, offering a seamless financial experience that connects everyday spending with investment growth.
e& Egypt Launches 'She Blooms' Program to Empower Women Leaders
The 'She Blooms' program is a fantastic new initiative designed to help women professionals at e& Egypt build strong leadership skills and boost their career resilience. It creates a supportive space for mentorship, sharing experiences, and open discussions.
Gulf Economies and Startups: Staying Strong Amidst Global Headwinds
Even with global challenges like rising costs and supply chain issues, Gulf markets are proving incredibly resilient. They're adapting well to changes, showing their strength in a tough environment.