# OQ Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/oq-technology

- Industry: Telecoms
- Headquarters: Leudelange, Luxembourg
- Website: www.oqtec.com/
- Total disclosed funding: $13M
- Latest round: Series B (Oct 20, 2024)
- Investors on record: 4

## About

Founded in 2016 by Omar Qaise (CEO), and Mohammed Al Muhairi, and based in Leudelange, Luxembourg, OQ Technology operates as a provider of a 5G cellular IoT (Internet-of-Things) that offers a dual-mode satellite-cellular IoT modem that enables users to track their assets and machines. In February 2026, OQ Technology raised EUR 25 million in debt funding from European Investment Bank. The firm has 2 subsidiaries in Athens, Greece, and the other in Al Khobar, Saudi Arabia. The firm offers a cellular terminal hybrid satellite that is used for remotely monitoring and controlling fixed and mobile assets in industries such as transportation, oil, and gas, utilities, maritime, agriculture, and more. The company plans to utilize the February 2026 funding to launch over 20 additional small satellites and grow its direct-to-device satellite network, aiming to enhance connectivity for smartphones and Internet of Things devices from space.

## Funding rounds

- Series B, Oct 20, 2024 — SES S.A., Saudi Aramco Entrepreneurship Ventures, Luxembourg Space Agency, 5g ventures
- Series A, Oct 3, 2022, $13M — Saudi Aramco Entrepreneurship Ventures, 5g ventures

## Investors

- Saudi Aramco Entrepreneurship Ventures (https://capitalatlas.ai/funds/saudi-aramco-entrepreneurship-ventures) — Series A, Series B
- 5g ventures (https://capitalatlas.ai/funds/5g-ventures) — Series A, Series B
- SES S.A. — Series B
- Luxembourg Space Agency — Series B