Omani Company Launches Two AI Funds Aiming to Raise More Than $75 Million
Published
Omani investment firm Phaze Ventures has announced the launch of two new investment funds focused on artificial intelligence. Through these two funds, the company aims to raise more than 75 million US dollars.
The two funds will invest in startups working in artificial intelligence and advanced technologies. The investments will be made in the Sultanate of Oman as well as in other international markets. Advanced technologies are technologies built on complex scientific and engineering research, such as certain solutions in energy, healthcare, and computing.
This announcement comes at a time when investment in technology and artificial intelligence is increasing in the Gulf region, including the Kingdom of Saudi Arabia. Countries in the region are seeking to develop their digital economies and diversify their sources of income. As a result, many investors are showing interest in startups in this sector.
The available information does not specify the names of the companies the funds will invest in, or when the first investments will begin. The company is expected to announce further details in the coming period.
Sources: Wamda
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