Irish tech firms sign deals as part of Arab states trade mission

Ding, IHeed and mAdme among 32 firms taking part in Enterprise Ireland trip

Enterprise Ireland chief executive Julie Sinnamon

Enterprise Ireland chief executive Julie Sinnamon

 

A number of Irish tech companies, including Ding, the mobile top-up platform established by former EY Entrepreneur of the Year award winner Mark Rodden, have signed deal with investors in Oman while on a trade mission.

In addition, Enterprise Ireland, which has arranged the visit, has signed agreements with the Oman Technology Fund to increase co-investment opportunities for Irish companies.

In a separate agreement, Atlantic Bridge, one of Europe’s top performing technology funds and a big backer of Irish companies, signed a strategic investment partnership with both Oman Technology Fund and OIF, the sovereign wealth fund of Oman.

Some 32 Enterprise Ireland client companies are taking part in the three-day trade mission to the UAE and Oman, which includes over 200 pre-arranged meetings with potential buyers.

Ding, which allows millions of users to send top-up to 400 mobile operators in 130 countries, has signed an agreement with Asia Express Exchange Oman, one of the region’s leading exchange houses with over 30 branches. It has also signed a memorandum of understanding with Oman Investment and Finance Co (OIFC), an investment and services company that specialises in billing, collection and debt factoring for electricity, water and telecom services in the Sultanate.

Medical education technology

IHeed, a Dublin-headquartered next-generation medical education technology company, said it had secured a €3 million investment led by Atlantic Bridge and supported by the Oman Tdechnology Fund and ACT Venture Partners.

The Trinity School of Medicine-based firm also said it intends to open an office in Muscat to support local customers and expansion into the region.

Lastly, mAdme, a leading digital marketing hub for mobile phone operators, said that Omantel, the number one telecommunications service provider for households and businesses in the Sultanate, has selected its ImpactConversion Platform.

“The agreements reached by Ding, IHeed and mAdme with Oman partners today reflect the significant opportunities that we see for Irish companies in Oman and the wider middle east region,” said Enterprise Ireland chief executive Julie Sinnamon.