Oman's Phaze Ventures launches two AI funds targeting over $75 million. News - 28 October, 2026 * Oman-based Phaze Ventures has launched two venture capital funds targeting more than $75 million combined, securing over $40 million in investor commitments to date. The funds will invest in artificial intelligence and deeptech startups in Oman and international markets. * Phaze Ventures Fund II is anchored by ITHCA Group, a subsidiary of Oman Investment Authority, as well as Ominvest and Oman LNG Development Foundation. The second vehicle, Phaze Ventures Oman Fund, is backed by Future Fund Oman and will focus on domestic AI-enabled businesses. * Founded in 2018 by Abdullah Al Shaksy, Mohammed Al Wahaibi and Masoud Al Rawahi, Phaze Ventures invests in early-stage AI and deeptech companies, with a focus on the GCC and North America. The firm has offices or team members in Muscat, Dubai and Riyadh. * The two funds have made 10 investments, including Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal. Phaze Ventures manages capital for more than 50 investors, including sovereign entities, corporations and family offices across the Gulf and other markets. Oman-headquartered Phaze Ventures announced the launch of two new venture funds targeting over $75 million. Phaze Ventures Fund II, anchored by ITHCA Group (a subsidiary of Oman Investment Authority), Ominvest and Oman LNG Development Foundation, continues the firm's global AI and deeptech investment mandate, while Phaze Ventures Oman Fund, anchored by Future Fund Oman, establishes a dedicated capital pool for homegrown AI-enabled businesses. Together, the two-fund venture platform has secured over $40 million in investor commitments, with ongoing discussions to grow the funds to $75 million. The announcement comes as Oman builds the International Financial Centre of Oman, a new hub for international companies and investors. "AI is the most disruptive technology shift of our generation. Oman and the Gulf can't afford to be spectators, and our participation can't be limited to playing catch-up through investments in hyperscalers, data centres and public market offerings. We need to invest in the founders disrupting industries at home and across the globe, and we need to be a part of that disruption early," said Abdullah Al Shaksy, Co-founder and CEO of Phaze Ventures. The new funds' first 10 investments include Arabic.AI, Sully.ai, Andromeda Surgical, Boardy.ai and Metal, with co-investors including a16z, 8VC, Standard Capital, Y Combinator and Baidu Ventures. "We back founders who combine domain expertise with strong engineering and learn from every real-world deployment," said Masoud Al Rawahi, Co-founder and Partner at Phaze Ventures. Nour Al Hassan, Founder and CEO of Arabic.AI, said: "Getting to know the Phaze Ventures team convinced me they were the right partners. They shared our ambition to build AI our region can own and our long-term commitment to make it happen." Arabic.AI develops Arabic-language enterprise AI, supported by investment from Saudi Arabia's HUMAIN and a partnership with Qualcomm Technologies. Ahmed Omar, Co-founder and CEO of Sully.ai, said: "Phaze Ventures understood early how Sully could leverage AI to bring more capacity and real returns to the global healthcare system. They backed us every step of the way as we scaled globally, and were able to connect us with healthcare providers who could put our product to work." NVIDIA highlighted Sully.ai in a case study showing a 90% reduction in inference costs and a 65% improvement in response times for medical workflows. That early conviction extends to Andromeda Surgical, which Phaze Ventures backed before its US$15 million Series A led by Standard Capital. Nick Damiano, Co-founder and CEO of Andromeda Surgical, said: "Phaze Ventures didn't shy away from a frontier problem like building the autonomous AI-guided future of robotic surgery. They recognised our team's rare combination of medical and autonomy expertise, backed us early, and have been proactive in opening doors through their regional network." The new fund platform has backed players in the capital markets ecosystem, including Metal and Boardy.ai. Phaze Ventures invested in Metal's seed round alongside Y Combinator and a16z. Metal's AI fundraising platform helps hundreds of founders manage their capital raise uses AI to connect founders with investors, customers and talent. Usman Gul, Founder and CEO of Metal, said: "In today's venture landscape, slow capital is expensive. I've raised from some of the world's leading venture firms, and Phaze Ventures brings the same speed and foresight. They moved quickly to back us early and became committed partners as we rapidly scaled Metal's AI-driven operating system for founders raising venture rounds." A two-time founder, Usman previously raised US$120 million from investors including First Round Capital and 20VC. With team members in Muscat, Dubai and Riyadh, Phaze Ventures manages capital for over 50 investors, including sovereign entities, listed companies, corporates, family offices and business families across Oman, Saudi Arabia, Bahrain, India and beyond. "Investors across Oman and the Gulf want a stake in the next generation of AI companies while they are still taking shape. This platform is our answer" said Mohammed Al Wahaibi, Co-founder and Partner at Phaze Ventures.

HUMAIN, Arabic.AI, and Tarjama partner to advance language translation. - Copyeditor / Editor Published: Sep 4, 2026 Serving organisations across Saudi Arabia and international markets, HUMAIN, Arabic.AI, and Tarjama have announced their collaboration to advance Arabic language translation and document intelligence. Multilingual AI capabilities. Delivering full-stack artificial intelligence (AI) capabilities across the globe, HUMAIN, based in Saudi Arabia, has published its strategic investment in and partnership with Tarjama and Arabic.AI. This collaboration will bring together HUMAIN's AI infrastructure, advanced models, and capabilities with Tarjama's deep language expertise and Arabic.AI's translation, document intelligence, and enterprise language technologies to deploy Arabic and multilingual AI capabilities at enterprise scale. "Arabic remains one of the most complex and important languages for enterprise AI to serve effectively. By combining HUMAIN's full AI stack with Arabic.AI and Tarjama's deep expertise in Arabic language technology, we intend to give organisations more capable tools for translation, document intelligence, and multilingual AI. This partnership is focused on turning proven technology into reliable, production-ready solutions that enterprises can deploy at scale," states Tareq Amin, CEO of HUMAIN. The partnership between these companies will leverage over 18 years of language technology and enterprise delivery expertise to accelerate the adoption of AI-powered translation, document intelligence, and language solutions across Saudi Arabia and international markets. Ultimately, HUMAIN's investment is designed to rapidly expand deployment of Arabic.AI's solutions to Saudi Arabia's enterprise customers at scale. To achieve this, the three companies are planning to bring the first solutions to market with early enterprise customers, with initial solutions to be unveiled at LEAP 2026. Production-ready solutions. Each organisation is providing its complementary strengths across the AI and enterprise technology stack. By combining these strengths, they are working in collaboration to simplify adoption and reduce the time from concept to deployment for Arabic.AI solutions. Specifically, HUMAIN is bringing its full AI stack, comprising locally operated AI infrastructure, next-generation compute, and advanced models. Meanwhile, Arabic.AI is offering its Arabic-first translation management system, Cleverso, its Arabic translation models, and a proven delivery model that embeds language technology directly into enterprise operations. Nour Al Hassan, Founder and CEO of Arabic.AI, states that: "Arabic is where enterprise AI is tested hardest, and it is what we have built for. Arabic.AI is bringing its full platform, products, and expertise into this partnership to serve Saudi enterprises directly. Together with HUMAIN, we are focused on putting Arabic-first AI into the hands of organisations across the Kingdom and helping them move from ambition to production." Together, Arabic.AI and HUMAIN will work with early enterprise customers to bring Arabic.AI's solutions to the Saudi market across three primary areas: translation management system, archive digitisation engine, and document intelligence agents. Translation management entails one Arabic-first platform for every team, with enforced glossaries, compounding translation memory, and full control over where linguistic assets sit. The archive digitisation engine will consist of legacy documents, records, and media turned into searchable Arabic knowledge, accurate capture of handwritten and degraded script, automatic classification, and rights-managed access. Finally, for document intelligence agents, customers can anticipate agents that read, check, and draft contracts, tenders, and filings, clause-level extraction, automated compliance checks, and human-in-the-loop drafting. This article was produced by the editorial team at EME Outlook and published as part of the Outlook Publishing global network of B2B industry magazines. Outlook Publishing delivers industry insights, company stories, and sector coverage across manufacturing, mining, construction, healthcare, supply chains, food production, and sustainability. EME Outlook provides ongoing coverage of organisations and developments shaping industries across Europe and the Middle East. Add to your Preferred Sources Copyeditor / Editor Lauren Kania is an in-house writer for EME Outlook Magazine, where she is responsible for interviewing corporate executives and crafting original features for the magazine, corporate brochures, and the digital platform. Add to your Preferred Sources