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Oman tech start-up 44.01 has raised $37 million in a Series A funding round, which was led by the UAE’s Mubadala-backed venture capital firm Shorooq Partners, and Norway’s Equinor Ventures.
Other key investors in the company included Innovation Development Oman, Amazon’s Climate Pledge Fund, Siemens Financial Services, among others.
44.01, which employs mineralisation technology to eliminate CO2 permanently and at scale, said the funding will enable the company to continue to develop its technology, work on commercial-scale projects, and expand its deployment internationally.
(Writing by Bindu Rai, editing by Seban Scaria)
