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Tehran Index is not affiliated with the Tehran Stock Exchange (TSE) and publishes no securities index of its own; exchange closing prices shown for tracked listed companies are public reference data (TSETMC / IFB). Tehran Index publishes independent research: every claim is sourced, every named company is resolved to the registry, and every figure carries its evidence state. It is not investment, legal or compliance advice. Tehran Index covers business, technology and markets only. © 2026 Tehran Index. All rights reserved.

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Ownership · Iran Innovation Economy

The Iran Digital Economy Map

Iran’s digital economy is not a field of independent startups. A meaningful share of the companies we track sit under a parent group, and the clustering is uneven. The consumer rails, mobility, e-commerce, fintech and media, cluster under a handful of groups. The frontier, AI, cloud and cybersecurity, is still mostly independent. This map measures control, not investment: a venture firm’s portfolio is not a corporate group, so investment stakes are left out. It reads the structure two ways, how much of each sector sits under a controlling group, and which groups those links point to. Control verified against the corporate gazette is marked. The rest is reported affiliation, not yet confirmed.

385registry records
112report a parent group (29%)
48gazette-verified control, 8 groups
19groups with 2+ affiliates

Where control concentrates

Companies under a controlling group, by sector. Ranked by count; the bar splits verified control from reported affiliation.
  1. Fintech49/145
    34% of sectorFANAP 4, Asan Pardakht 2, Bank Mellat 2
  2. Media9/20
    45% of sectorSaba Idea 4, Pegah Holding 2, Digikala Group 1
  3. E-commerce9/21
    43% of sectorDigikala Group 4, Golrang Industrial Group 2, Fankam Group 1
  4. Enterprise SW7/21
    33% of sectorFANAP 2, Fanava Group 1, First Electronic Commerce Group 1
  5. Mobility4/8
    50% of sectorDigikala Group 1, Golrang Industrial Group 1, Hezardastan 1
  6. Logistics4/12
    33% of sectorDigikala Group 2, Golrang Industrial Group 1, Snapp Group 1
  7. Travel4/15
    27% of sectorAlibaba Travels Group 2, Arnika (technology group) 1, Snapp Group 1
  8. AI4/17
    24% of sectorDigikala Group 1, Mustang Startup Studio 1, Part AI 1
  9. Digital Assets4/22
    18% of sectorArnika (technology group) 1, Nobitex 1, Tabdeal 1
  10. SaaS3/8
    38% of sectorDigikala Group 2, Yektanet 1
  11. Accelerators3/10
    30% of sectorDigikala Group 1, Mustang Startup Studio 1, National Informatics Group (NIC Holding) 1
  12. Classifieds2/4
    50% of sectorHezardastan 2
  13. FoodTech2/4
    50% of sectorGolrang Industrial Group 1, Snapp Group 1
  14. App Dist.2/7
    29% of sectorHasin Group 1, Pegah Holding 1
  15. PropTech1/6
    17% of sectorArnika (technology group) 1
  16. Gaming1/8
    13% of sectorTOD / Turned On Ventures 1
  17. Cloud1/9
    11% of sectorHezardastan 1
  18. Cybersecurity1/9
    11% of sectorAmnPardaz 1
  19. Telecom1/9
    11% of sectorFANAP 1
  20. Healthtech1/12
    8% of sectorSnapp Group 1
  21. AgriTech0/1
    0% of sectorno parent group tracked
  22. Edtech0/11
    0% of sectorno parent group tracked
  23. HR Tech0/6
    0% of sectorno parent group tracked

The parent groups

Ranked by tracked affiliates. Gazette-verified control marked.
  1. Digikala Groupverified13
    13 companies · 8 sectors
  2. Snapp Groupverified8
    8 companies · 7 sectors
  3. FANAPverified7
    7 companies · 3 sectors
  4. Golrang Industrial Groupverified7
    7 companies · 6 sectors
  5. Hezardastanverified4
    4 companies · 3 sectors
  6. Saba Ideaverified4
    4 companies · 1 sector
  7. Arnika (technology group)3
    3 companies · 3 sectors
  8. Mustang Startup Studio3
    3 companies · 3 sectors
  9. Pegah Holdingverified3
    3 companies · 2 sectors
  10. Alibaba Travels Groupverified2
    2 companies · 1 sector
  11. Asan Pardakht2
    2 companies · 1 sector
  12. Bank Mellat2
    2 companies · 1 sector
  13. Bank Melli Iran2
    2 companies · 1 sector
  14. Bank Pasargad2
    2 companies · 1 sector
  15. Firouzeh Group2
    2 companies · 1 sector
  16. Gharz al-Hasaneh Mehr Iran Bank2
    2 companies · 1 sector
  17. Karizma Financial Group2
    2 companies · 1 sector
  18. Saman Bank2
    2 companies · 1 sector
  19. Yektanet2
    2 companies · 2 sectors

Plus 40 single-company holdings, mostly a bank or telecom behind one fintech. Venture investors are not parent groups and are left out of this control view. Browse every group at /ecosystem.

Gazette-verified control Reported affiliation, unverified Independent

Source · Tehran Index ownership registry, October 23, 2026 · n=385 public companies · “affiliated” counts any company reporting a parent group, excluding independent, private and investment-only ties. Control is marked only where verified against the corporate gazette. Coverage, not a census. Full records at /companies, sector detail at /sectors.