Cyfr Capital backs five Omani startups via Seed Fund
Oman-based venture capital firm Cyfr Capital has completed five new investments through its Seed Fund, in collaboration with Future Fund Oman. Individual investment amounts, total capital deployed, and equity stakes were not disclosed.
The five startups
The investments span automotive commerce, food delivery, tourism, artificial intelligence, and food packaging:
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- Sooq Cars — an automotive trading platform with more than one million users, offering vehicles from stock, imports, spare parts, and leasing across Oman and the wider Gulf.
- iO Eats — a food delivery application supported by cloud kitchens across six locations, enabling orders from more than 30 restaurants in a single basket.
- Darrbak — a tourism discovery and booking platform offering more than 260 experiences across adventure, sports, nature, arts, and culture, working with over 76 local providers.
- Decoil — develops data and AI solutions that help organisations process unstructured data and convert it into actionable insights.
- Pack’N — provides customised packaging and smart storage solutions to food and beverage businesses.
Why it matters
The deal signals growing institutional conviction in Oman’s early-stage ecosystem. With Future Fund Oman co-deploying alongside a domestic VC, the structure offers a blueprint for how Gulf sovereign capital can activate local seed-stage pipelines — a pattern that international limited partners and later-stage funds tracking the India–Gulf corridor should be watching.
The portfolio itself cuts across consumer internet, enterprise AI, and logistics-adjacent services, suggesting a thesis built on domestic demand depth rather than export-only narratives.
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