FOOD-

Modon doubles down on food industry investments: The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed a total of 10 industrial, investment, and logistics contracts worth SAR 350 mn on the sidelines of the Saudi Food Show, a post on X announced.

In CONTEXT- Modon is the key strategic partner of this year’s Saudi Food Show, but its support for the F&B industry dates back to 2023 when it signed agreements worth USD 285 mn to localise the Kingdom’s F&B industry.

STARTUP WATCH-

Egypt-based Flat6Labs added T-Gate to its investment portfolio, after the homegrown tech startup participated in the fifth cycle of Flat6Labs’ Riyadh Seed Program, competing with more than 20 startups for prizes — including a three-year funding — the company said in a post on LinkedIn.

About T-Gate: T-Gate is a middleware that connects food and beverage outlets with service providers, delivery apps, and point-of-sale systems, aiming to streamline communication between food tech businesses and other industry players.

REFRESHER- Flat6Labs invested a total of SAR 5 mn in 10 Saudi startups in the fourth cycle of its Riyadh Seed Program last December, with each startup receiving SAR 500k in direct investments.

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