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, covering automotive commerce, food delivery, tourism, artificial intelligence, data solutions, packaging and storage. The value of the individual investments, total capital deployed and equity stakes acquired were not disclosed.
Supporting Early-Stage Startups
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. The collaboration with Future Fund Oman is intended to strengthen access to capital for local startups as they develop products, expand operations and build their customer bases. By investing across several sectors, the Seed Fund is gaining exposure to a diverse group of technology-enabled and operational business models.
Sooq Cars and iO Eats
Sooq Cars operates an automotive marketplace serving Oman and the wider Gulf, offering vehicles from stock, imports, spare parts and leasing services through its platform. According to Cyfr Capital, the company has attracted more than one million users, giving it a presence across several parts of the vehicle purchasing and ownership process. iO Eats, meanwhile, operates a food delivery application supported by cloud kitchens across six locations and allows customers to order from more than 30 restaurants within a single basket.
Darrbak and Decoil
Darrbak operates a tourism discovery and booking platform that connects users with more than 260 experiences across adventure, sports, nature, arts and culture in Oman. The company works with more than 76 local providers, giving tourism operators digital tools to make their activities easier to discover and book. Decoil focuses on data and artificial intelligence solutions designed to help organizations process unstructured information and convert complex datasets into actionable insights.
Pack’N and Portfolio Diversity
Pack’N provides customized packaging and smart storage solutions for businesses operating in Oman’s food and beverage sector. Its offering is designed to help companies improve operations, manage costs and strengthen the customer experience as they expand. Together, the five investments give Cyfr Capital exposure to consumer platforms, enterprise technology, tourism and operational services tied to areas of the Omani economy with potential for further digitalization and growth.
The five investments highlight Cyfr Capital’s focus on supporting startups addressing identifiable market needs while building businesses with potential to expand beyond their initial customer base. Through its partnership with Future Fund Oman, the firm is providing early-stage capital to companies operating across a broad mix of industries rather than concentrating on a single vertical. The new funding gives Sooq Cars, iO Eats, Darrbak, Decoil and Pack’N additional resources to develop their products, strengthen operations and pursue their next stages of growth.