eMushrif secures $2.3mn to support expansion
eMushrif, an Omani company which developed Internet of Things (IoT) systems for school buses and COVID-19 tracking devices for quarantine compliance, has secured US$2.3mn in a Series A round of funding led by IDO Investments.
The round will support eMushrif’s expansion to other markets and verticals across the region.
As per a statement, the investment round saw participation from Phaze Ventures, Oman Technology Fund, Dubai-based Dtec Ventures, Myrad holding and other angel investors.
From the funds secured by this over-subscribed round, the company plans to invest in strengthening product development introducing new cutting-edge technologies and scale mass production and supply chain for the IoT devices developed by the R&D team.
During the COVID-19 pandemic, eMushrif provided the Government of Oman with IoT wearables used by people in isolation connected to a mobile app and sophisticated dashboards for quarantine compliance monitoring implementing AI and crowd GPS technologies.
The company also operates on-boarding process at all borders providing IoT wearables to all travellers to Oman.
Mazin al Naamani, portfolio impact lead at IDO Investments, said, “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. eMushrif is a great example, and in many ways embodies the spirit of future-facing Omani startups of global potential.
“The company is exceeding all expectations and we are pleased to join hands in pursuing the company’s mission. 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.”
Adnan al Shuaili, co-founder and CEO, eMushrif, added, “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.
“We are also revolutionising commuting services in other verticals such as oil and gas by providing intelligent commuting management systems and ensuring safety of the community by implementing COVID-19 quarantine compliance.”
“Dtec Ventures sees a great potential for eMushrif in the UAE and is ready to support the founders to get traction with local institutions,” added Julien Plouzeau, investment manager at Dubai-based DTec Ventures.
Founded in 2016 by Adnan al Shuaili, Awadh al Shukaili, and Issa al Shuaili, eMushrif uses IoT to turn regular school buses into smart buses.
The startup deploys IoT devices on the buses that enable automatic attendance marking of students. The company operates in Oman and Kuwait and has done three acquisition deals to expand the team and explore other markets.