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Incubator/Accelerator
FINANCE | Investment Firms & Funds
otf.om

Investments

37

Portfolio Exits

2

About Oman Technology Fund

Oman Technology Fund is a hub for national and international entrepreneurs. It also invests in related incubator, accelerator, and global VC programs. The main objective of its incubation program is to support and accelerate the successful development of angel or start up companies by providing entrepreneurs with an array of services, including 3 months training program, mentorship, and funding.

Headquarters Location

Knowledge Oasis Muscat Seeb

Muscat, 135,

Oman

99631198

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Latest Oman Technology Fund News

Oman's ITHCA Group invests in semiconductor design firm GSME

Feb 12, 2024

ITHCA says its investment, the first of its kind in Oman, underscores the Sultanate's drive to participate in the global semiconductor space. ITHCA Group was established in 2019 with an investment focus and quickly integrated integrated companies such Oman Broadband, Oman Technology Fund, Oman Towers and Space Communications Technology under its umbrella. The agreement with GSME started last year and concluded with the successful development of the first two test chips, Oman-1 and Oman-2, entirely crafted by Omani engineers during their training. The deal was officially signed by Said bin Abdullah Al Mandhari, CEO of ITHCA Group, and Farhat Jahangir, CEO of GSME. US-based GSME provides customised silicon solutions including RF design, power management ICs, manufacturing operations, and Quality Assurance (QA) to IC design and system companies. It supports high-end GPUs, specialised CPUs, low-power IoT devices, and wireless products. Ad

Oman Technology Fund Investments

37 Investments

Oman Technology Fund has made 37 investments. Their latest investment was in Shape as part of their Seed on March 21, 2023.

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Oman Technology Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/21/2023

Seed

Shape

Yes

5

9/21/2022

Series A

Elevatus

$10.5M

Yes

6

6/14/2022

Series A

Dastgyr

$15M

Yes

6

6/8/2022

Series B

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$99M

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10

4/12/2022

Series A

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10

Date

3/21/2023

9/21/2022

6/14/2022

6/8/2022

4/12/2022

Round

Seed

Series A

Series A

Series B

Series A

Company

Shape

Elevatus

Dastgyr

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Amount

$10.5M

$15M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

5

6

6

10

10

Oman Technology Fund Portfolio Exits

2 Portfolio Exits

Oman Technology Fund has 2 portfolio exits. Their latest portfolio exit was Galactech on January 17, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/17/2023

Acquired

$99M

21

3/31/2022

Reverse Merger

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$99M

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10

Date

1/17/2023

3/31/2022

Exit

Acquired

Reverse Merger

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

21

10

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