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The Venture Codex

Phaze Ventures

Salam Gate, Madinat Qaboos, Muscat, 112, Oman

Overview

Founded in 2018, Phaze Ventures is the oldest private venture capital firm headquartered in Oman. We invest in early stage Deeptech, AI and Web3 companies from the Middle East, Europe and North America to accelerate the transformation of our region’s economies.

Total investments
8
Lead investments
2
Investments · 12mo
2
Active investors
1

Sector focus

  • Finance
  • Venture Capital
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Investment portfolio

  • eMushrif

    Participated · Equity · Jan 2026

    Founded in 2017 by Adnan Alshuaili, Issa Alshuaili and Awadh Al Shukaili, eMushrif offers an integrated hardware-and-software platform that brings real-time visibility, safety monitoring and route optimization to school bus fleets. The company’s AI- and IoT-enabled system serves more than 120,000 students across public and private schools in Oman and Kuwait, working closely with both government bodies and private operators. By combining vehicle-mounted sensors, student check-in hardware and cloud dashboards, eMushrif gives parents, schools and regulators up-to-the-minute data on bus location and student safety. In 2021, the company expanded its product footprint through the acquisition of Egypt-based transport tracking app Tareeqi. With fresh capital, eMushrif plans to scale into Saudi Arabia and the UAE while continuing to invest in product development and operational capabilities in its core markets. The firm positions itself within a multi-billion-dollar global market for student transportation safety and compliance technologies.

  • Clarity

    Participated · Equity · Sep 2025

    Clarity is a London-based company offering an enterprise platform that merges voice-of-customer intelligence, AI agents, and support automation into a single, secure solution. Its technology helps global organisations in banking, government, and other regulated sectors better understand and serve customers. The firm partners with OpenAI, Booking.com, Grubhub, Careem, and STC, evidencing early commercial traction. Clarity also maintains offices in New York and Riyadh to support its international client base. The newly secured capital will fuel expansion of operations and accelerate product development. By focusing on security and compliance, the company positions itself as a trusted provider for industries with stringent regulatory requirements.

  • Tarjama

    Participated · Series A · May 2025

    Tarjama is a Dubai-based language solutions technology company founded in 2009 by Nour Al Hassan that provides advanced language technology across 50+ languages and 22 Arabic dialects. It serves over 700 clients globally and offers a suite of products including AMT (Arabic Machine Translation), CleverSo (translation management), T-Portal (content services), and FastScribe (transcription and translation). Recently the company launched Pronoia V2, a purpose-built Arabic-first LLM that the company says outperforms GPT-4o and Cohere on Arabic tasks. Tarjama is developing the Arabic.AI agentic ecosystem to help organizations solve complex business processes with AI agents. The company's core product focus combines machine translation, LLMs and workflow tools to target enterprise localization and Arabic-language AI use cases. It raised $15M in Series A financing in May 2025 to accelerate rollout of Arabic.AI and expand its product ecosystem.

  • qeen.ai

    Participated · Seed · Jun 2024

    Qeen.ai builds autonomous AI agents for e-commerce that handle content creation, marketing, and conversational sales for merchants across MENA. Its platform uses proprietary RL-UI technology to continuously learn from consumer interactions and dynamically personalize content (for example, device-specific text formats). Since launching its Dynamic Content agent in Q2 2024, Qeen says it has served over 15 million users, generated 1 million SKU descriptions, and helped merchants increase sales by 30%; notable clients include Dubai Store, 6th Street, and Jumia. The company employs a subscription-based, value-driven pricing model: content automation is charged per active SKU (typically $0.10–$0.20 per SKU per month) while its AI marketing agent is priced by interaction; Qeen declined to disclose total customers or revenue growth. Founded by former Google and DeepMind engineers Morteza Ibrahimi (CEO), Ahmad Khwlieh (CTO), and Dina Alsamhan (CBO), Qeen currently has over 25 employees across the UAE and Jordan and plans to scale across MENA before expanding globally. The startup is using new funding to expand its AI platform, grow the team, and attract more customers amid rapid regional e-commerce growth. qeen.ai is a Dubai-based AI startup founded in 2023 by Dina Alsamhan, Ahmad Khwileh and Morteza Ibrahimi. The company provides no-code, native GenAI product-discovery solutions for e-commerce businesses of all sizes. Its platform learns from user interactions and autonomously improves content in real time and across multiple languages without manual intervention. qeen.ai aims to boost online sales and customer lifetime value (LTV) for its clients. The company closed a $2.2M Pre-Seed funding round and intends to use the proceeds to expand operations and its business reach. Investors in the round include Wamda Capital, 10x Founders, Aditum, Dara Holdings, Jabbar Group, Phaze Ventures and Eureka 460.

  • SpotLight

    Participated · Series A · Aug 2023

    SpotLight develops noninvasive subsurface surveillance solutions for geological CO2 storage using proprietary algorithms to analyze large volumes of subsurface data. Its technology emphasizes speed, enhanced deployability, and reduced need for intrusive fieldwork to improve monitoring of carbon storage. SpotLight demonstrated CO2 monitoring capability in the GreenSand pilot injection offshore Denmark in early 2023 and has projects onshore and offshore in Canada and Denmark. The company plans to expedite its product development roadmap and expand into emissions-intensive industries such as steel, concrete, and chemicals. Financially, SpotLight previously raised a €500,000 seed round in 2020 and has now completed a $6.68 million Series A to support growth and commercialization.

Team