{"id":49325,"date":"2025-07-25T01:51:27","date_gmt":"2025-07-24T22:51:27","guid":{"rendered":"https:\/\/entarabi.com\/?p=49325"},"modified":"2025-07-27T14:39:28","modified_gmt":"2025-07-27T11:39:28","slug":"sufarat-completes-new-funding-round-with-backing-from-oman-future-fund-and-idt-group","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/07\/sufarat-completes-new-funding-round-with-backing-from-oman-future-fund-and-idt-group\/","title":{"rendered":"Sufarat Completes New Funding Round with Backing from Oman Future Fund and IDT Group"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\">SafaQat, Oman\u2019s Digital Procurement Platform, Secures New Funding to Enhance Tech Infrastructure<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\">Funding round led by Oman Future Fund and ITHCA Group aims to support platform expansion<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\">SafaQat announced the completion of a new funding round in partnership with the Oman Future Fund and ITHCA Group, aiming to expand its digital procurement and supply service.<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left;\">Omani digital procurement platform SafaQat has announced the successful completion of a new funding round, with the participation of the Oman Future Fund and ITHCA Group.<\/p>\n<h2 dir=\"ltr\" style=\"text-align: left;\">Funding Objectives<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\">The investment aims to strengthen the platform\u2019s technical infrastructure, improve user experience, attract national talent, and support the expansion of services to government entities and new markets.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">SafaQat integrates a range of digital tools, including interactive dashboards, a notification system, advanced algorithms for bid sorting, and real-time reporting.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The company is currently developing AI-powered tools to analyze bids and forecast prices, in alignment with Oman\u2019s national digital transformation strategy.<\/p>\n<h2 dir=\"ltr\" style=\"text-align: left;\">A Startup Under the Supervision of &#8220;Riyada&#8221;<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\">SafaQat operates under the supervision of the SMEs Development Authority (Riyada).<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">It was established during the COVID-19 pandemic as a joint initiative by four brothers: Majid, Suleiman, Ibrahim, and Al Moatasem bin Majid Al Saifi.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The idea initially emerged from a simple method of exchanging price quotations via messaging apps, before evolving into a fully integrated digital platform.<\/p>\n<h2 dir=\"ltr\" style=\"text-align: left;\">Market Challenges<\/h2>\n<p dir=\"ltr\" style=\"text-align: left;\">Commenting on the journey, co-founder Al Moatasem Al Saifi stated:<\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cThe project benefitted greatly from the brothers\u2019 collective experience in the procurement sector, with each taking on a specific role in developing the platform.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">He added that the key challenges included building trust with institutions, shifting market behavior, and encouraging the adoption of digital solutions.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He explained:<\/p>\n<blockquote>\n<p dir=\"ltr\" style=\"text-align: left;\">\u201cWe overcame these challenges by staying closely connected with users and continuously updating the platform based on their feedback and evolving need,\u201d<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Omani digital procurement platform SafaQat has announced the successful completion of a new funding round, with the participation of the Oman Future Fund and ITHCA Group.<\/p>\n","protected":false},"author":11,"featured_media":49340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[8850,1813],"tags":[9130,3870,9131,9132],"class_list":["post-49325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-venture","category-transportation","tag-al-moatasem-bin-majid-al-saifi","tag-ithca-group","tag-safaqat","tag-smes-development-authority-riyada"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/49325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=49325"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/49325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/49340"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=49325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=49325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=49325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}