MUSCAT: Muscat-based venture capital firm Cyfr Capital has completed five new investments through its Seed Fund in collaboration with Future Fund Oman (FFO), extending early-stage backing to companies working in car trading, food delivery, tourism, artificial intelligence and packaging.
The five are Sooq Cars, iO Eats, Darrbak, Decoil and Pack’N, according to an announcement published by the firm on August 18. Cyfr Capital did not disclose the value of the individual investments, the total committed under the Seed Fund, or the size of the stakes acquired.
Sooq Cars operates a vehicle-trading platform covering Oman and the wider Gulf, spanning ready stock, imports, spare parts and leasing. Cyfr Capital said the platform’s user base exceeds one million.
iO Eats runs a food-delivery application supported by cloud kitchens at six locations, allowing customers to order from more than 30 restaurants in a single basket without additional charges, the firm said.
Darrbak offers a booking platform for tourism experiences in Oman, listing more than 260 activities across adventure, sports, nature, arts and culture and drawing on more than 76 local providers.
Decoil supplies data and artificial intelligence services aimed at helping organisations process unstructured data and convert it into usable insight, while Pack’N provides customised packaging and smart storage solutions to food and beverage businesses.
Cyfr Capital described the transactions as part of its approach to funding companies at the product-development and early-expansion stage; and framed the tie-up with FFO as supporting Oman’s entrepreneurship ecosystem.
FFO, the venture and growth investment arm established under the Oman Investment Authority in 2024, has been an active backer of Omani startups, most recently through a package of 105 projects and investments worth RO 583 million announced this month.
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