Category: Investments

Founded in 2018, Crusoe has developed an innovative Digital Flare Mitigation technology, where they use excess natural gas that would???ve otherwise been flared from flare stacks to generate cheap electricity that can be used to power numerous energy-intensive computing applications like cryptocurrency mining, cloud computing, and other energy-intensive computing applications. Crusoe is one of the fastest growing companies operating in flare mitigation and cryptocurrency mining sectors.

Founded in 2016 by three Omani engineers, eMushrif have developed an IoT-enabled student safety surveillance and monitoring solution that transforms regular buses into smart buses, and??tracking bands to monitor quarantine compliance tracking of inbound travelers. The solution is currently available in over 500 school buses across Oman,??and has tracked thousands of passengers upon entry at Muscat International Airport. The devices are paired with a mobile application, which offers real-time tracking available to school and??healthcare admins, with live updates and location. In addition, it also monitors the behavior of bus drivers and can detect any negligent or dangerous signs.

With the onset of the global Covid-19 Pandemic, eMushrif used it’s innovative IoT technology and developed an app which tracks quarantine compliance of inbound travelers, monitoring compliance, vaccination appointment booking, vaccine certificates and more.

The company has recently acquired MyRoute, a Kuwaiti school student monitoring startup and an Egyptian startup Tareeqi, starting its expansion journey across the region.

Dragos was formed in 2013 and has quickly become the industry???s most comprehensive Industrial Control Systems (ICS) cybersecurity technology with powerful asset identification, threat detection, and response capabilities.

The platform provides security teams with unprecedented knowledge of their ICS environments and assets, awareness of the threats and adversaries they face, and the tools to respond to them through step-by-step case management tools and investigation playbooks.

It???s the first product to codify and integrate the knowledge of the industry???s most experienced ICS security experts and an intelligence-driven approach with software technology.

Congenica was founded in 2014 as a Spin out from the Wellcome Sanger Institute, one of the leading genetic research institutions. The company???s platform, Sapientia, is a clinical genomic analytics platform that provides integration of human DNA sequences with deep clinical phenotyping, enabling clinicians and researchers to provide actionable interpretation of genetic disease for patients.

Congenica improves the opportunity for genomic characterization of disease. Supporting laboratories to achieve 30% higher analytical yields than averages and reduce analysis times and costs by 95%.??This enables improvement of diagnostic confidence, maximize workflow efficiency and increase diagnostic yield and case throughput. It also??supports rapid and accurate diagnoses and disease characterization, helping to provide patients with the treatment they need faster.

In 2019, Congenica signed an agreement with the National Genetic Centre to aid in the management of Omani patients with rare genetic diseases.

Boston-area-based Allurion Technologies has developed a non-invasive weight-loss procedure in the form of a swallow-able capsule that expands into a gastric balloon and is filled with 550ml of water once placed in the stomach. The balloon remains in the body for about 4 months and then deflates and ???passes naturally???. The balloon can be placed by a gastrologist or internist in a few minutes. This procedure substitutes gastric bypass or band surgery, invasive endoscopy and anaesthesia. Patients who used Ellipse lose an average of 15-20% of their total body weight over a five-month timeframe. Creating nutrition and healthy lifestyle plans alongside professional nutritionists are also a key element of the process and are essential to patients having a long-term benefit from the Ellipse program.

In Oman, Allurion is offered in multiple private hospitals and hundreds of patients have been treated to date.

Founded in 2017, Carzaty offers a digital car buying experience that promises to disrupt the automotive retail industry. Operating in Oman and the UAE, Carzaty is an online platform to search, compare, buy and finance new and assured used cars. By replacing the traditional showroom with a simple and transparent online experience, Carzaty delivers a more affordable and stress-free way to buy cars.

As a promising Omani start-up which has already begun operating internationally, with potential to scale even further, Carzaty has the potential to create jobs for Omani???s and positively impact the economy. With a 77% Omanisation rate, and an ever growing workforce, Carzaty embodies IDO???s vision for SMEs in Oman and enriches the entrepreneurial ecosystem in the country.

Fractyl Health???s mission is to cure metabolic diseases by addressing their root cause: insulin resistance. The company has developed an innovative minimally invasive outpatient approach to treat insulin resistance with a medical device. The device is designed to rejuvenate the lining of the duodenum which leads to a significant decrease in insulin resistance. Currently, the device targets patients with type 2 diabetes, polycystic ovarian syndrome (PCOS) and nonalcoholic steatohepatitis (NASH).

Fractyl???s device is a treatment of the underlying disease and not just its symptoms. Clinical trials are being held in various locations around the world, with promising results, and commercialization has started in Europe.

Golden Gate Ventures is an early-stage venture capital firm headquartered in Singapore with an on the ground presence in Jakarta, Indonesia. Since 2011, the firm has invested in over 35 companies across Southeast Asia. The firm invests in Startups in Southeast Asia that leverage technology and the internet to scale rapidly and disrupt existing industries ??? from e-commerce to payments, marketplaces to content portals, mobile apps to B2B, IoT to SaaS platforms. internet and mobile start-ups across e-commerce, fintech, mobile applications, and SaaS platforms.

With Golden Gate Venture???s diverse range of portfolio companies, and their active involvement in their development, this investment provides an excellent platform for the introduction of new technologies and solutions for Oman.