Oman’s ITHCA Group has led a $40 million strategic funding round for Movandi, a US-based leader in advanced semiconductor and systems for 5G and satellite communications. The Omani technology investment group contributed $20 million, anchoring the round to help accelerate the global deployment of high-performance wireless infrastructure.
Strategic Expansion Into Deep Tech
The investment marks a significant strategic move for ITHCA Group as it expands its portfolio into the deep tech sector. By leading the round for Movandi, the Omani firm is positioning itself at the forefront of next-generation connectivity solutions, including 5G, satellite communications, and fixed wireless access. This aligns with a broader vision to back cutting-edge technologies with global impact.
Fostering a Tech Hub in Oman
As a direct result of the partnership, Movandi will establish a new office in Oman. This new hub is set to enhance collaboration with local universities and research centers, attract and develop regional talent, and launch pilot projects focused on smart communications and AI-driven connectivity solutions. The initiative aims to contribute directly to the growth and sophistication of Oman’s domestic technology ecosystem.
Global Syndicate of Investors
The funding round also saw participation from a diverse group of global technology investors. New backers include the Phaistos Investment Fund, VT Alliance, and Murata. They were joined by Movandi’s existing investors, including Cota Capital, Celesta Capital, DNX Ventures, and Sierra Ventures, highlighting strong confidence in the company’s technology and market strategy.
About ITHCA Group
ITHCA Group is a technology-focused investment firm based in Oman. It operates as part of the Oman Investment Authority (OIA) with a mandate to invest in advanced technologies and drive strategic growth, both locally and internationally.
About Movandi
Founded in the US, Movandi is a specialist in designing advanced systems and semiconductors for next-generation wireless communications. The company’s technology is instrumental in deploying high-performance infrastructure for 5G, satellite communications, and fixed wireless access solutions.
Source: Jawlah
