SafaQat, a rising digital procurement startup from Oman, has successfully secured strategic funding from the Oman Future Fund and Idrak Group. The investment is a strong vote of confidence in the country’s growing tech ecosystem. Along with that, it shows the startup’s potential to revolutionize procurement using AI.
Founded in 2020 by four entrepreneurial brothers, Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi, SafaQat emerged during the COVID-19 pandemic. Initially launched as a basic quote-sharing tool, it quickly evolved into a powerful digital tendering platform. The tool by SafaQat simplifies procurement for businesses and government entities.
Backed by National Institutions
The startup operates under the guidance of Riyada, Oman’s SME Development Authority. It has become a standout example of how local innovation can fuel digital transformation. With this new funding, SafaQat aims to push its capabilities even further.
What the Investment Will Support
The fresh capital will be used to boost several key areas of the business:
- ✅ Enhancing AI Infrastructure – Upgrading the platform to deliver smarter bidding and pricing insights
- ✅ Improving User Experience – Making the interface more intuitive and accessible
- ✅ Expanding into Government Procurement – Supporting public sector tendering with greater efficiency
- ✅ Entering New Markets – Scaling operations beyond Oman to reach regional clients
Co-founder Al Moatasem Al Saifi emphasized that the investment is more than just financial backing:
“It’s a belief in the future of Oman’s digital economy and a commitment to empower youth.”
A Growing Impact
Today, SafaQat serves over:
- ✅ 2,486 users
- ✅ 2,784 registered suppliers
- ✅ 1,260 tenders managed through the platform
These numbers reflect the platform’s growing influence in reshaping how procurement is done, digitally, transparently, and efficiently. The startup has also earned national recognition, including accolades from Jadarah 2024 and the Omani Startup Accelerator.
Future Plans: Smart Procurement at Scale
Looking ahead, SafaQat plans to develop more AI-powered tools that help buyers and suppliers make better decisions. These tools will include:
- ✅ Automated bid analysis
- ✅ Real-time price forecasting
- ✅ Data-driven procurement recommendations
The startup is also committed to supporting local SMEs by offering:
- ✅ Free onboarding and training
- ✅ Workshops and outreach campaigns
- ✅ A community-first approach to digital adoption
Final Thoughts
SafaQat’s journey, from a pandemic-era project to a national digital procurement leader, is a powerful example of how innovation and resilience can create meaningful impact. With strong institutional backing and a focus on AI, the company is now aiming to lead the next wave of procurement transformation across Oman and beyond.