Oman-Based Byanat Secures Seed Funding Round to Revolutionize Data Analytics Solutions
Muscat, June 7, 2023 — byanat, a data analytics company, has raised its seed funding round with contributions from 500 Global, Sanabil Investments, Omantel, Al Jabr MENA, and distinguished angel investors including Yaser Alghamdi. The company's SaaS solution help scale and maintain connected infrastructure, by unifying connectivity management, device management, and data analytics.
The investment will speed the development of byanat’s product and technology, enable access to the Saudi market, and support rapid growth. "This milestone investment strengthens our dedication to scaling our operations, broadening our product range, and entering new markets," said Ahmed Alghadani, co-founder and CEO of byanat. The startup has received the Machine Learning Award in Data at Oman’s 2nd Big Data and Analytics Meet and is among the top 2% accepted into the 500 Global accelerator program in the MENA region.
"Our mission at byanat is to leverage devices and connectivity data, empowering a highly efficient, dependable, and sustainable infrastructure for our ever more interconnected world. This investment serves as a testament to the immense potential of our groundbreaking technology that byanat has been implementing since its inception." Dr. Ahmed Albadi, co-founder and CTO of byanat.
Sheikh Talal bin Said Al Mamari, CEO of Omantel, commented on the investment, “This historic investment partnership is an eloquent endorsement of the trust global investors have in Omani startups. It also reflects Omantel’s far-sighted vision towards innovation and technology. Omantel’s investment in byanat is driven by our confidence in its potential to revolutionise the technology industry, not just in Oman but worldwide. As we continue to focus on enhancing and growing our innovative services and infrastructure, we also place a high priority on empowering startups through various programs offered by Omantel Innovation Labs”.
Mohammed Al Wahaibi, CEO of Al Jabr MENA, stated, "Our investment underscores our dedication to supporting the growth of Omani tech startups. We have full confidence in byanat's innovative capabilities and their potential to deliver value and drive the development of the connected infrastructure. We are excited to actively contribute to byanat’s success as they expand operations and enter new markets."
byanat's forthcoming SaaS analytics platform integrates IoT and connectivity management for connected infrastructure. As digital infrastructure becomes more intricate, advanced data analytics solutions are crucial for effective connectivity and management. byanat's platform is well-positioned to tackle these challenges and deliver value.
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