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Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund
Technology

Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund

Register now for FREE unlimited access to Reuters.comRegisterDUBAI, Sept 1 (Reuters) - Luxembourg-based OQ Technology, a global 5G internet of things satellite operator, has raised 13 million euros ($13.05 million) 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 localise their products and solutions in Saudi Arabia.Wa'ed is the entrepreneurial venture capital arm of the kingdom's state oil giant. Phaistos Investment Fund focuses on investment in 5G-related products and services and managed by 5G Ventures, a venture capital firm based in Athens.Register now for FREE unlimite...