Cyfr Capital backs five Omani startups in new Seed Fund investments
Wamda
- 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 users, while iO Eats runs a food delivery platform supported by cloud kitchens across six locations and more than 30 restaurants.
- Darrbak provides access to more than 260 tourism experiences from over 76 local providers, while Decoil develops AI and data solutions and Pack’N provides customised packaging and smart storage solutions.
- The value of the individual investments, total capital deployed and stakes acquired were not disclosed.
Press release:
Oman-based venture capital firm Cyfr Capital has completed five new investments through its Seed Fund in collaboration with Future Fund Oman, backing startups operating across automotive commerce, food delivery, tourism, artificial intelligence and food packaging.
The five companies are Sooq Cars, iO Eats, Darrbak, Decoil and Pack’N. The investments form part of Cyfr Capital’s strategy to support early-stage companies developing products and services for the Omani market with potential to scale.
Sooq Cars operates an automotive trading platform serving Oman and the wider Gulf. Its services span vehicles available from stock, imports, spare parts and leasing, and the company has a user base exceeding one million, according to Cyfr Capital.
iO Eats operates a food delivery application supported by cloud kitchens across six locations. The platform allows users to order from more than 30 restaurants in a single basket.
Darrbak operates a tourism discovery and booking platform in Oman, offering more than 260 experiences across adventure, sports, nature, arts and culture. It works with more than 76 local providers.
Decoil develops data and artificial intelligence 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.
The investments are intended to provide the five companies with capital to develop their products and services and expand their operations, as part of the collaboration between Cyfr Capital and Future Fund Oman to support early-stage businesses in the Sultanate.
The parties did not disclose the value of the individual investments, the total amount invested or the equity stakes acquired in the five companies.
