Uvera, a Saudi Arabia-based deeptech startup focused on food preservation and supply chain intelligence, has successfully completed its seed funding round, attracting investments from Morgan Stanley Inclusive & Sustainable Ventures, LAB7, Core Vision, and several strategic angel investors. While the exact amount raised has not been disclosed, the funding is earmarked for scaling Uvera's commercial deployments and advancing its innovative technology platform. Founded in 2019 by Dr. Asrar Damdam, Uvera is leveraging proprietary shelf-life extension technology, blockchain for traceability, and IoT analytics to help stakeholders in the food supply chain minimize waste and enhance operational efficiency.
The company’s solutions are particularly timely, as global food waste remains a pressing issue, with approximately one-third of all food produced lost or wasted. Uvera aims to tackle this challenge by extending the shelf life of fresh produce and providing comprehensive visibility throughout the supply chain. LAB7, the venture-building arm of Aramco, will not only invest but also collaborate with Uvera to bolster the technical robustness and scalability of its platform, ensuring that the startup can meet the growing demands of the market.
Dr. Damdam emphasized the significance of this funding, stating it reflects both the urgent need to address food waste and the confidence investors have in Uvera's potential to make a measurable impact. This financial backing will enable Uvera to expand its reach and bring its advanced technology to a broader array of partners in the food value chain, ultimately contributing to a more resilient food system.
As the world grapples with food security challenges, Uvera's innovative approach positions it at the forefront of a critical sector. The involvement of major players like Morgan Stanley and LAB7 not only validates Uvera's business model but also signals a growing interest in sustainable technologies within the Gulf region, potentially reshaping the competitive landscape for startups focused on food technology and supply chain solutions.
The company’s solutions are particularly timely, as global food waste remains a pressing issue, with approximately one-third of all food produced lost or wasted. Uvera aims to tackle this challenge by extending the shelf life of fresh produce and providing comprehensive visibility throughout the supply chain. LAB7, the venture-building arm of Aramco, will not only invest but also collaborate with Uvera to bolster the technical robustness and scalability of its platform, ensuring that the startup can meet the growing demands of the market.
Dr. Damdam emphasized the significance of this funding, stating it reflects both the urgent need to address food waste and the confidence investors have in Uvera's potential to make a measurable impact. This financial backing will enable Uvera to expand its reach and bring its advanced technology to a broader array of partners in the food value chain, ultimately contributing to a more resilient food system.
As the world grapples with food security challenges, Uvera's innovative approach positions it at the forefront of a critical sector. The involvement of major players like Morgan Stanley and LAB7 not only validates Uvera's business model but also signals a growing interest in sustainable technologies within the Gulf region, potentially reshaping the competitive landscape for startups focused on food technology and supply chain solutions.
Source: Wamda
