MUSCAT: ITHCA Group — the tech investment arm of Oman Investment Authority (OIA) — has invested $20 million in Movandi, a California-based developer of semiconductor and smart wireless solutions, to accelerate Oman’s capabilities in next-generation communications and chip design under Oman Vision 2040.

Eng Said bin Abdullah al Mandhari, CEO of ITHCA, said the deal reflects the Group’s strategy to forge high-quality partnerships that transfer knowledge, build Omani talent and create an integrated technology ecosystem. He added that the plan includes establishing a national innovation centre focused on smart communications and semiconductors in collaboration with universities and research institutions.

Movandi will open a Muscat office that will serve as a regional hub for research, development and collaboration. The company’s portfolio includes RF chipsets, beam-forming systems and smart antennas designed to enhance network performance while reducing costs in both urban and remote areas.

Speaking to the Observer at the signing, Movandi co-founder Maryam Rofougaran said Oman offers a confident base for expansion into the Middle East and Asia. She said Oman stood out for the motivation of its partners and the government’s commitment to technology and talent development. She described the deal as Movandi’s first meaningful investment and cooperation in the region and said the company plans, together with ITHCA, to help build a strong local ecosystem by training students and engineers, co-developing technologies and supporting research, development and deployments from the new Muscat office.

Rofougaran said the Muscat office will support national programmes to localise advanced industries, deepen university–industry links and expand Oman’s role in regional technology supply chains. She outlined Movandi’s business executive summary and IP and product road map, noting that the first phase focuses on expanding existing millimetre-wave sales regionally and globally while leveraging the Oman team to support R&D and the technology road map.

She said the second phase targets the development of new satellite space and terminal chipsets that leverage existing Movandi intellectual property to accelerate time-to-market, with revenue to be driven via strategic partnerships with major rocket and satellite companies in 2027. She added that the third phase aims to develop high-speed data-centre transceivers, building on prototypes and system partnerships, with qualification planned with leading players, including NVIDIA and revenue targeted from 2030 and beyond.

According to details shared at the signing, the strategic partnership with Oman includes establishing a design centre to tap the country’s growing technology ecosystem and talent pool. It also positions Movandi’s presence in Oman to accelerate high-tech and business growth, coordinate with key Omani players to unlock opportunities and economic impact, leverage Oman as a base to support business across the MENA region and position the Sultanate of Oman as a semiconductor and communications leader in the region.

Al Mandhari said the partnership will reinforce Oman’s position as a regional hub for future technologies and the digital economy while developing national competencies in a sector central to next-generation networks and services.

2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).