Oman-based eMushrif has secured $2.3 million in a Series A funding round, led by IDO Investments, with participation from Phaze Ventures, Oman Technology Fund, Jasoor Ventures, Dtec Ventures, Myrad Holding, and other angel investors.
Founded in 2016 by Adnan Al Shuaili, Awadh Al Shukaili, and Issa Al Shuaili, eMushrif started off as a transport startup. Shortly after the Covid-19 pandemic started, the company has leveraged its internet of things (IoT) technology to pivot into other sectors, including school and corporate transport. The startup deploys IoT devices on buses that support automatic attendance marking of students.
It has also provided the government of Oman with an IoT-based contact tracing application utilising AI and crowd GPS technologies. Additionally, it operates an onboarding process at all borders providing IoT wearables to all travelers to Oman.
“We’re excited to receive such tremendous support from our investors, who are aligned with our vision for expansion. With our current fundraise, we can continue to serve thousands of parents and save lives on school buses and regain parents’ trust in school transportation,” said Adnan Al Shuaili, co-founder and CEO.
“We are also revolutionising commuting services in other verticals such as oil and gas by providing intelligent commuting management system and ensuring the safety of the community by implementing covid-19 quarantine compliance,” he added.
eMushrif operates in Oman and Kuwait and has completed three acquisition deals to grow its team and expand to other markets.
“At IDO Investments, we are committed to supporting growth stage, innovative startups in Oman that have the capability and scalable potential to expand beyond Oman’s borders by offering capital and a platform to expand globally. These startups typically have a product or service that is unique not only to Oman but to the world,” said Mazin Al Naamani, portfolio impact lead at IDO Investments.
"IDO’s investment will be a catalyst in boosting growth and expansion for eMushrif. This capital injection will help in enriching existing jobs as well as providing new skilled job opportunities for Omanis,” he added.
The company will use the newly-raised funds to expand into other markets, develop its product offering, introduce more technologies, and scale mass production and supply chain for the IoT devices developed by its research and development team.