Uzbekistan's digital ecosystem, Uzum, has secured over $130 million in a strategic investment round, with the sovereign investment fund of the Sultanate of Oman acting as the lead investor. The round also saw participation from existing investors, including VR Capital, Tencent, and FinSight Ventures. The deal encompasses equity investments and structured financing, with Uzum's pre-money valuation set at $2.3 billion.
This investment aligns with objectives outlined by Uzbekistan's President Shavkat Mirziyoyev in a December 2025 address to the nation, which set a target of attracting $50 billion in foreign investments by 2026. The new agreement enables the country to take a significant step toward this goal, though achieving such ambitious figures may face challenges amid global economic uncertainties and the need for sustained reform efforts.
The raised funds will be directed toward further developing key areas of the ecosystem, such as e-commerce and fintech services, as well as expanding technological infrastructure and enhancing access to modern digital services for residents across all regions of Uzbekistan. Founder and CEO of Uzum, Jasur Jumayev, emphasized that the company is consistently building a national-scale technological infrastructure to make digital services accessible to millions of people and businesses.
Uzbekistan's Minister of Investment, Industry, and Trade, Laziz Kudratov, stated that Uzum has become an example of realizing the country's economic potential, gaining the trust of leading global investors. He noted that attracting investments from Oman's sovereign fund not only signifies strengthened economic ties between the nations but also represents an important outcome of ongoing efforts to improve the investment climate and develop Uzbekistan's digital economy.
Currently, Uzum's services are used by over 20 million Uzbekistanis monthly, with the ecosystem's e-commerce turnover growing 1.5 times in 2025 to exceed $500 million. Since its inception, the ecosystem has remained a key driver of the country's economic digitization, bolstering Uzbekistan's standing in the global investment community, although maintaining such growth rates long-term may require further strategic adjustments and market adaptations.
Source: kun.uz