Cyfr Capital backs five Omani startups in new Seed Fund investments
Oman-based venture capital firm Cyfr Capital has completed investments in five Omani startups through its Seed Fund, in collaboration with Future Fund Oman. The investments went to Sooq Cars, iO Eats, Darrbak, Decoil and Pack’N, spanning automotive commerce, food delivery, tourism, AI and data, and food packaging and storage. Sooq Cars operates an automotive marketplace with more than one million…
Cyfr Capital, a venture capital firm based in Oman, has recently invested in five local startups through its Seed Fund, in partnership with Future Fund Oman. These investments span a diverse range of sectors, including automotive commerce, food delivery, tourism, artificial intelligence, and food packaging and storage. The companies that received funding are Sooq Cars, iO Eats, Darrbak, Decoil, and Pack’N.
Sooq Cars operates an automotive marketplace that boasts over one million users. This platform covers various aspects of the automotive industry, including vehicles available from stock, imports, spare parts, and leasing services. iO Eats specializes in food delivery, providing a platform that has been supported by cloud kitchens in six locations and more than 30 restaurants. Users can conveniently order from multiple restaurants within a single basket.
Darrbak is a tourism discovery and booking platform that offers over 260 unique experiences across adventure, sports, nature, arts, and culture. The company collaborates with more than 76 local providers to facilitate these experiences. Decoil focuses on developing data and artificial intelligence solutions to help organizations process unstructured data and extract actionable insights. Lastly, Pack’N offers customized packaging and smart storage solutions for businesses in the food and beverage sector.
The value of each individual investment and the total capital deployed remain undisclosed by Cyfr Capital and Future Fund Oman. The specific stakes acquired by the venture capital firms in these five companies are also not disclosed. The investments form part of the strategic plan by Cyfr Capital to support early-stage companies developing innovative products and services for the Omani market, with the potential for growth and scalability.
The collaboration between Cyfr Capital and Future Fund Oman aims to provide these startups with the necessary capital to develop their offerings and expand their operations within the Sultanate.
Written by urgent.news from Wamda's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
