Muscat, Oman: Oman-based venture capital firm Cyfr Capital has completed investments in five Omani startups through its Seed Fund, in collaboration with Future Fund Oman, supporting early-stage businesses across automotive commerce, food delivery, tourism, artificial intelligence and food packaging.
The investments were made in Sooq Cars, iO Eats, Darrbak, Decoil and Pack’N as part of Cyfr Capital’s strategy to support startups developing innovative products and services for the Omani market, with potential for regional expansion.
Sooq Cars operates an automotive marketplace serving Oman and the wider Gulf, offering vehicles from stock, imports, spare parts and leasing services. The platform has more than one million users, according to Cyfr Capital.
iO Eats operates a food delivery platform supported by cloud kitchens across six locations. Customers can order from more than 30 restaurants through a single basket.
Darrbak is a tourism discovery and booking platform offering access to more than 260 experiences across adventure, sports, nature, arts and culture. The company works with more than 76 local tourism providers in Oman.
Decoil develops artificial intelligence and data solutions designed to help organisations process unstructured data and convert it into actionable insights.
Pack’N operates in the food and beverage sector, providing customised packaging and smart storage solutions to businesses.
Cyfr Capital said the investments will provide the five startups with capital to strengthen their products and services, expand operations and support their growth. The transactions are part of the broader collaboration between Cyfr Capital and Future Fund Oman to promote entrepreneurship and early-stage business development in the Sultanate.
The individual investment amounts, total capital deployed and equity stakes acquired were not disclosed.
