Phaistos and Wa’ed Ventures co-lead funding round in spacetech co OQ
Luxembourg-based OQ Technology, a global 5G internet of things satellite operator, has raised 13 million euros in its Series A funding round co-led by Saudi Aramco’s Wa’ed Ventures and Greece’s Phaistos Investment Fund, according to a joint statement on Thursday.
It is Wa’ed’s first investment overseas since it expanded its mandate to pursue global tech startups looking to localize their products and solutions in Saudi Arabia. [Reuters]
