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Tawazun Council

11th floor, Al Mamoura B, Abu Dhabi, United Arab Emirates

Overview

Tawazun Economic Council is an industrial participation program that seeks to derive economic value from the country’s extensive defense procurement program. Tawazun Economic Program has worked actively to diversify the UAE economy by creating new ventures in sectors of national importance. The Tawazun Economic Program, which is overseen by the Tawazun Economic Council, is UAE’s industrial participation program that seeks to derive economic value from the country’s extensive defense procurement program. Since 1992, Tawazun Economic Program has worked actively to diversify the UAE economy by creating new ventures in sectors of national importance. The program has partnered with international contractors, brought investments and latest technologies into UAE, generated knowledge-based jobs for UAE nationals and created business opportunities for UAE companies.

Total investments
3
Lead investments
1
Investments · 12mo
0
Active investors
3

Sector focus

  • Procurement
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Investment portfolio

  • HawkEye 360

    Participated · Series D · Jul 2023

    HawkEye 360 operates a constellation of satellites that detect, geolocate, and characterize radio-frequency (RF) emissions around the globe. Its proprietary signal processing and AI-driven analytics platform converts raw RF spectrum data into actionable intelligence for government and allied defense agencies. The company positions its offering as mission-critical for domain awareness and early-warning needs, enabling faster and better decision-making. HawkEye 360 is currently integrating Innovative Signal Analysis (ISA) to deepen its analytic capabilities and expand its product suite. Proceeds from recent fundraising are earmarked to strengthen the balance sheet and support this integration, as well as to continue investing in platform enhancements. Headquartered in Herndon, Virginia, the firm markets itself as a trusted partner proven by operational mission success.

  • DRONAMICS

    Participated · Series A · Feb 2023

    Founded in 2014 and based in Sofia, Dronamics develops the Black Swan, which the company describes as Europe’s only MALE (mid-altitude long-endurance) drone built for low-cost, long-range autonomous missions. The Black Swan is positioned for cargo transport as well as disaster prevention and civil protection use cases. Through the new strategic investment by Asia Air Survey’s CVC, Dronamics plans to establish Dronamics Japan Holdings Co., Ltd. to expand geospatial applications and service offerings in Japan and beyond. Company leadership has highlighted substantial market opportunities in Japan and intends to leverage the partnership to develop combined services. The move is presented within broader defence-tech cooperation trends between the EU and Japan and rising global interest in European drone capabilities.

  • Amygda

    Led · Equity · Sep 2022

    Amydga develops industrial AI and machine-learning software to optimize asset utilization, reduce unplanned maintenance, and lower the embedded-carbon impact of transport industries. The company was founded by ex-Rolls-Royce engineers and has customers in the aerospace, rail, and industrial sectors across the UK and US. It has expanded operations by launching a tech hub in Bulgaria and is targeting new regions such as the Middle East. Amydga previously participated in Boeing’s Aerospace Xelerated Cohort 3 focused on AI and autonomy. Last year the startup was supported by Sofia-based VC BrightCap Ventures. The recent investment will accelerate product development and enable further experimentation and validation with existing customers while providing strategic expertise from Boeing. Amygda Labs builds an industrial AI platform that centralizes machine and component data to monitor condition and predict failures ahead of time. Its solution targets aerospace, railway and industrial customers, and the company cites case studies including one with NASA and work with a UK leasing firm. Amygda reports it has covered 100 billion data points, categorized engine failures, and can predict problems up to 50 machine cycles before they occur. The team is led by CEO Faizan Patankar and was co-founded by former Rolls‑Royce and Airbus engineers. Short‑term priorities for 2021 include validating the solution, expanding the team, and deploying with additional customers. Amygda plans to use Bulgaria as its European tech hub to manage operations and train local ML talent, and it aims to later expand into adjacent markets such as autonomous vehicles.

Team

  • Tareq Al Hosani

    Chief Executive Officer

    LinkedIn
  • Abdulla Jenaibi

    Company Owner

  • Hasan Barakat

    Chief Financial Officer

    LinkedIn