ITHCA’s $20M Investment in Movandi: A Strategic Boost for Oman’s Semiconductor Industry and Business Growth
MUSCAT: ITHCA Group, the technology investment division of the Oman Investment Authority (OIA), has committed $20 million to Movandi, a California-based company specializing in semiconductor and smart wireless technologies. This investment aims to advance Oman’s capabilities in next-generation communications and chip design, aligning with the goals of Oman Vision 2040.
Eng Said bin Abdullah al Mandhari, CEO of ITHCA, stated that this agreement represents the Group’s strategic focus on forming valuable partnerships that facilitate knowledge transfer, nurture Omani talent, and establish a comprehensive technology ecosystem. He further revealed plans to create a national innovation centre dedicated to smart communications and semiconductors, in collaboration with universities and research institutions.
As part of the deal, Movandi will inaugurate a Muscat office to serve as a regional hub for research, development, and collaboration. The company’s offerings include RF chipsets, beam-forming systems, and smart antennas designed to improve network performance and reduce costs in both urban and remote locations.
Movandi co-founder Maryam Rofougaran highlighted Oman’s strategic advantage as a solid base for expanding into the Middle East and Asia. She commended the enthusiasm of Omani partners and government support for technology and talent growth. Describing this as Movandi’s first major investment and partnership in the region, she emphasized plans to contribute actively to building a robust local ecosystem by training students and engineers, co-developing technologies, and supporting research and deployments through the new Muscat office.
Rofougaran outlined that the Muscat office will facilitate national initiatives to localize advanced industries, strengthen university-industry collaboration, and boost Oman’s participation in regional technology supply chains. She detailed Movandi’s business strategy and intellectual property roadmap, with initial efforts focusing on expanding millimeter-wave technology sales regionally and globally while utilizing the Oman-based team for R&D and technological advancements.
The second phase will concentrate on developing new satellite space and terminal chipsets, leveraging Movandi’s existing intellectual property to fast-track market entry, with projected revenue growth through strategic partnerships with major rocket and satellite firms by 2027. The third phase targets the creation of high-speed data-centre transceivers, based on prototypes and system collaborations, with expected validation alongside industry leaders like NVIDIA and revenue generation from 2030 onwards.
The partnership includes establishing a design centre to harness Oman’s expanding technology ecosystem and talent pool. Movandi’s presence in Oman is expected to accelerate high-tech industry growth, collaborate with key local stakeholders to unlock economic opportunities, and position Oman as a regional leader in semiconductors and communications, serving as a base to support operations across the MENA region.
Al Mandhari affirmed that this collaboration will strengthen Oman’s role as a regional hub for future technologies and the digital economy, while cultivating national expertise in a sector critical to the development of next-generation networks and services.
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Oman’s $20 million strategic investment in Movandi marks a bold step toward establishing the Sultanate as a regional leader in next-generation semiconductor and smart wireless technologies. This partnership creates a significant opportunity for businesses and investors to capitalize on Oman’s growing tech ecosystem, particularly in smart communications and chip design, while positioning the country as a tech innovation hub for the MENA region. Smart investors and entrepreneurs should now prioritize collaborations in R&D, talent development, and integrated technology solutions to leverage this expanding digital economy and future-proof their ventures amid global tech advancements.
