Oman’s technology investment arm, ITHCA Group, has announced a USD 20 million investment in Movandi, a leading US-based semiconductor and wireless connectivity company. The deal marks a significant step toward strengthening Oman’s technology ecosystem. It also aligns with the nation’s Vision 2040 strategy to build a knowledge-driven, innovation-led economy.
Advancing Oman’s Vision 2040
The investment reflects Oman’s ambition to position itself as a regional technology hub, focusing on sectors that drive the digital economy. Key focus areas include:
- Artificial intelligence and machine learning
- Advanced semiconductor manufacturing
- Smart communications infrastructure
- Wireless and satellite technologies
Said bin Abdullah Al Mandhari, CEO of ITHCA Group, emphasized that the partnership supports Oman’s goal of developing its human capital and fostering innovation through international collaboration.
“Through this partnership, we aim to transfer knowledge, develop national skills, and build an integrated ecosystem that positions Oman as a regional hub for future technologies and the digital economy,” Al Mandhari said.
Partnership with Movandi
Movandi, headquartered in California, specializes in RF chipsets, beamforming systems, and smart antennas that improve wireless connectivity. Its technology enhances 5G networks, satellite communications, and fixed wireless access systems by improving signal reach and reducing deployment costs.
Co-founder Maryam Rofougaran highlighted that this partnership bridges Silicon Valley and Oman, opening opportunities for collaboration in developing next-generation communication systems.
Movandi will also establish a regional research and development hub in Muscat, dedicated to smart communication technologies and AI applications. This facility will play a key role in fostering innovation within Oman’s growing tech sector while supporting global operations.
Building a Regional Tech Ecosystem
ITHCA’s investment in Movandi is part of a broader strategy to expand Oman’s footprint in the global technology landscape. By partnering with international firms, ITHCA aims to:
- Enable technology transfer and R&D collaborations
- Nurture local engineering and AI talent
- Stimulate entrepreneurship and tech startups
- Strengthen Oman’s role in semiconductor and communication innovation
Earlier this year, ITHCA also invested in Lumotive, a US company pioneering programmable optical semiconductor technology. The partnership supports Lumotive’s expansion into industrial applications and aligns with Oman’s digital transformation efforts.
According to Lumotive, the collaboration will accelerate the adoption of smart infrastructure and AI-driven technologies across the region, positioning Oman as a catalyst for innovation in the Middle East.
Shaping Oman’s Digital Future
ITHCA’s growing portfolio of strategic tech investments reflects its commitment to long-term value creation and economic diversification. By collaborating with high-tech companies like Movandi and Lumotive, Oman continues to lay the groundwork for a resilient, technology-based economy that supports innovation across industries.