Oman’s FASCANO Raises $10 Million to Scale F&B Technology Across the Region
Oman-based foodtech startup FASCANO has closed a $10 million investment round its third as it moves to deepen its technology footprint across the hospitality and food and beverage sector in the region.
The FASCANO $10 million funding round saw participation from His Highness Sayyid Dr. Kamel bin Fahd Al Said and Cyfr Capital, in partnership with the Future Fund Oman under the Oman Investment Authority. The backing from both royal and institutional investors reflects a growing confidence in the Omani startup ecosystem and its ability to produce scalable technology companies.
Founded in 2021 by Ahmed Al Kharusi and Murak Al Muairki, FASCANO provides operational and technology solutions for the hospitality and food and beverage sector, with a focus on improving efficiency and streamlining processes. In a sector often burdened by fragmented workflows and manual operations, the company has carved out a position by offering practical, tech-driven fixes that businesses are clearly adopting at scale.
This latest FASCANO $10 million funding round builds on a track record of consistent investor support. In November 2024, the company closed its second funding round at an undisclosed amount, led by the Oman Future Fund in collaboration with the Oman Investment Authority and Cyfr Capital. The return of Cyfr Capital and the Future Fund in this third round signals sustained belief in the company’s direction.
The company says the new capital will support continued product development and further expansion of its solutions across the sector, a signal that FASCANO is not slowing down. With the F&B and hospitality industry across the Middle East continuing to grow, especially as Gulf economies diversify away from oil, the timing of this raise positions the company well for its next phase.
For the Oman startup ecosystem, FASCANO’s consistent fundraising is a meaningful data point showing that deep-tech solutions built for specific industry problems can attract serious capital even outside the more established hubs of Dubai and Riyadh.
